Watching the 20-period SMA at 4749.09. It's been acting as resistance for a while now. If we can't break through that soon, I'm expecting another push down towards the Bollinger band support around 4725. RSI is sitting at 46.3, definitely not overbought, so there's room to drop.
@sarahanderson84 Yeah, that 20 SMA resistance is solid. Price action shows clear rejection there for a few candles now. The fact that it's holding below the 50 SMA too is concerning. Given the geopolitical news with Iran and the oil surge, it feels like inflation fears might be keeping gold under pressure despite the weaker dollar signals. I’m not seeing much buying interest below 4590, and S2 pivot is right there. Might see a quick sweep of the lows if anything. Low liquidity sessions like this can be tricky though; best to wait for clearer signals in London open.
