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Gold (XAU/USD) Price Forecast: Bearish Flag Tests Key Support Zone
Gold triggered a bearish flag pattern on Friday with a drop below $4,996. Support was subsequently found near the 50-day moving average on Monday, with a low of $4,966 and resulting in a narrow range doji day, showing weak bearish follow-through. A low-momentum environment persisted on Tuesday, with gold set to end the session with another narrow range day and again finding support near the 50-day average. This continued hesitation around key support highlights the market’s current indecision following the recent bearish trigger. The 50-day average represents a key dynamic support area that needs to hold if the ... (full story)
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