Gold ($XAU ) has retreated from its $5,419 peak, currently testing the critical $5,130 - $5,150 support zone.
Key Takeaways:
Technical Bounce? We've seen an Inverted Hammer form on the 4H chart, signaling that the bears are getting tired.
The Conflict: Geopolitical jitters in the Middle East are keeping the safe-haven demand alive, even as the USD remains strong.
The Goal: Bulls need to reclaim $5,280 to confirm the correction is over and aim for $5,500+.
My Play: I’m looking for long entries near $5,135 with a tight stop loss below $5,030. This looks like a classic "shakeout" before the next leg up! 🛡️🚀
XAUUSDT
Perp
5,114.66
-0.26%
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