Based on the 4-hour chart, gold's key short-term resistance is at 5400–5420. The immediate support is at 5300, with a critical support level at the midnight retest low of 5260 on Monday, which is an important support for a rebound. The strategy is to focus on conservative retracement long positions.
Go long on gold when it retraces to 5300–5310, and add to long positions on dips to 5280–5290, with a stop loss at 5266. The target is at 5400–5420, and if broken, it can be held further.
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Based on the 4-hour chart, gold's key short-term resistance is at 5400–5420. The immediate support is at 5300, with a critical support level at the midnight retest low of 5260 on Monday, which is an important support for a rebound. The strategy is to focus on conservative retracement long positions.
Go long on gold when it retraces to 5300–5310, and add to long positions on dips to 5280–5290, with a stop loss at 5266. The target is at 5400–5420, and if broken, it can be held further.