Gold Market Update: The $5,000 Breakdown
Gold has officially entered a "Correction Phase" after losing the critical psychological support of $5,000. Global cross-asset liquidation and a strengthening USD are putting heavy pressure on the yellow metal.
📊 Technical Insights
Current Price: ~$4,942/oz.
The Breakdown: The drop below $5,000 has shifted the short-term sentiment from "Buy on Dips" to "Sell on Rallies." This level now acts as major resistance.
Immediate Support: The market is eyeing the $4,920 level. A daily close below this could trigger a fast move toward the $4,750 zone (Major Institutional Buy Zone).
RSI: Currently around 38, approaching "Oversold" territory, suggesting a relief bounce could happen soon, though the macro trend remains under pressure.
🎯 Trading Strategy
Sell Zone: $4,980 - $5,000 (Targeting $4,750).
Buy Zone: $4,730 - $4,760 (Long-term accumulation).
Stop Loss: $5,060 (Daily close above resistance).
💡 Verdict
Gold is currently "catching its breath" after a massive rally. For long-term investors, the target support at $4,750 represents a high-probability entry point. For day traders, watch the $4,920 floor—if it breaks, the volatility will spike.
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Disclaimer: Trading involves risk. Please manage your capital wisely.