Gold against the US Dollar is experiencing negative movement during today’s trading session, as prices follow a downward trend influenced by selling pressure near the key pivot level at 4900.
This level represents an important technical point controlling short-term price direction. Trading below it increases the likelihood of further declines. If the bearish momentum continues, prices are expected to move toward 4800 as a first target, followed by 4700 as the next downside level.
In the alternative scenario, if prices stabilize above 4900 and reverse upward, bullish movement may target 5000 first, followed by 5100 as the next resistance level.
Overall, the bearish outlook remains favored as long as prices stay below the 4900 pivot level.
Discover why over 25.000 live trading accounts trust Highness, and join the community of successful traders today.
KU 