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Gold (XAU/USD) Price Forecast: Bear Flag Suggests Downside Risk Remains
Gold bounced from Tuesday’s low on Wednesday, reaching a high of $3,990. At the time of writing, trading holds near the day’s highs and could push higher before the close. With a low of $3,930, today’s price action is set to complete a green inside day. Today marks the third consecutive day of lower daily highs, signaling continued downward pressure. Key dynamic resistance is the 10-day moving average at $4,005. Its position relative to this week’s highs shows gold weakening, as today’s high sits further below the line. Unless there is a sustained advance above Tuesday’s high of $4,006, price behavior ... (full story)
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