Gold (XAU) is showing intraday momentum, with critical levels shaping the path for todayâs trading session. Traders should keep a close eye on 4785 as the pivot point for potential setups.
đ Key Levels
Pivot: 4785
Upside Targets: 4930 & 4970 (extension)
Downside Targets: 4748 & 4715
đ„ Preferred Scenario: Bullish Bias
Long positions favored above 4785
Momentum confirmed by RSI showing upside strength
Targets:
TP1: 4930
TP2: 4970 (extended move)
This scenario suggests that gold could continue its upward trajectory, driven by sustained buying interest and technical momentum.
â ïž Alternative Scenario: Bearish Bias
Below 4785, look for further downside pressure
Potential targets:
TP1: 4748
TP2: 4715
A breach of the pivot may indicate a shift in intraday sentiment, favoring sellers and a correction toward key support levels.
đ§ Technical Comment
The RSI indicates bullish momentum, signaling that buyers may dominate as long as gold holds above the pivot. Watch for reaction at support/resistance levels for optimal entries.
đĄ Trading Tip:
Let gold come to key levels before entering trades
Align position size with risk tolerance
Monitor news and macro catalysts, as gold remains sensitive to global market shifts
#XAU #GoldTrading #TechnicalAnalysis #IntradaySetup #TradePlan $XAU
