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Gold (XAU/USD) is struggling to halt its decline, holding just above the psychological $4,000 level while showing limited price movement.
From a technical perspective, repeated failures to break above the 100-period Simple Moving Average (SMA) on the 4-hour chart continue to reinforce the bearish outlook. Consolidation below the psychological $4,000 level could serve as a trigger for a further decline.
The MACD remains slightly below the zero line, suggesting a weakening bearish momentum rather than the formation of a sustainable reversal. At the same time, the Relative Strength Index (RSI), after approaching oversold territory, indicated that selling pressure was easing, but it has yet to confirm a bullish reversal.
If the price consolidates above the $4,000 level, the nearest resistance is located around $4,045. A break above this level could open the way for a test of the $4,100 level. However, any further upside is likely to be capped by the area of the 100-period SMA near $4,180, where selling activity may intensify. To remove the current downward pressure and establish a more sustainable upward trend, a decisive breakout and sustained consolidation above this level will be required.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
