Gold Remains Bearish Below 4088 – Rehana William |Financial Consultant _Forex_Gold Xauusd| Fund Manager
XAU/USD (Gold) Market Update | 31 Jul
Timeframes: 15M | 1H | 4H
Trend: Neutral to Bearish
Price is consolidating around 4075-4078 after rejecting the 4108-4115 supply zone. Buyers are defending the 4070-4074 demand area, but momentum remains weak below key resistance.
Resistance:
- 4088 – 4098 (Immediate resistance)
- 4108 – 4115 (Major supply)
- 4120+ (Bullish continuation above)
Support:
- 4070 – 4068 (Immediate demand)
- 4056 – 4048 (Strong support)
- 4028 – 4005 (Major demand zone)
Trading Outlook:
- As long as price remains below 4088, preference is to Sell on Pullbacks.
- A confirmed break below 4070 can extend the decline toward 4056-4048.
- Only a sustained break and close above 4088-4098 would invalidate the short-term bearish bias and open the path toward 4110-4120.
Market Bias: Bearish below 4088 | Bullish only above 4098 with confirmation.
Key Level to Watch:4070 – This support will likely decide the next directional move.
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