As I previously mentioned, the 4187 range is crucial, and as long as we remain below it, the downward market trend that started from there and broke 4109 will continue. What's the outlook for gold? Is there hope for a rebound?
The dynamic support range of gold has been broken on a weekly timeframe, and it's now holding at a critical level. If gold closes below 4109, its last stronghold at 4034 will be at risk. The structure has turned bearish.
Upside Scenario: Gold needs to break above 4109 and hold its ground before it can attempt to reach 4140-
- This will be a crucial test of the market's strength and a potential reversal signal.
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