XAUUSD tested the 4,600 level, but the retest ended in a short squeeze. The two-day rally was cut short amid renewed uncertainty surrounding the ceasefire talks in Iran.
Geopolitics: Tensions in the Middle East remain high. The parties cannot find a way to begin negotiations; the West’s 15-point ceasefire proposal is completely at odds with Iran’s five conditions.
The main question is: with whom is Trump negotiating if Iran is not participating...
Gold came under pressure amid escalating risks and a strengthening dollar. The market does not believe in an imminent ceasefire, anticipating a U.S. ground operation. As long as geopolitics pushes the dollar and oil higher, gold remains vulnerable.
The price is trading below 4500; there is a possibility of retesting this zone to close the MM gestalt before a potential decline. The local trend has been broken again; bears are dominating...
Resistance levels: 4462, 4492, 4500
Support levels: 4401, 4351, 4320
There is a strong support level at 4400, which, upon an initial retest, could push the price higher, for example, to 4460–4500. For this reason, two scenarios are emerging:
- A close below 4400 could trigger a continuation of the decline to 4351–4320
- The market may bounce off 4400 and form an uptrend to retest the 4462–4492 zone of interest. A short squeeze could cause a drop to 4400–4320
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
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🟢Telegram Channel: telegram.me/RLindaTrade
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
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