Cracking Support: Bearish Momentum Accelerates to the Downside

4 May

Based on the H4 (4-hour) timeframe analysis for XAU/USD (Gold), here’s a concise prediction:

• Trend Direction: Bearish
  
• Recent Price Action: A clean break below a consolidation zone or horizontal support (e.g., $3267.937) confirms downside pressure.
  
• Forecast: As long as gold remains below the 3267-937 resistance area, the bearish pressure is likely to continue, targeting $2,270 and potentially $2,245 in the short term.

4 May

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Forecast: As long as gold remains below the $3267.93 resistance area, the bearish pressure is likely to continue, targeting $3267.93**

**Trading Plan**

Entry Zone: 3250-3265
Stop Loss: 3272
Take Profit: 3100

Wait for the price to enter the zone!!