XAUUSD
On the 4-hour gold chart, bearish momentum is increasing. It is expected that the price of gold will decrease in response to the first resistance and reach the first support. Also, a downward divergence can be seen in the RSI indicator, which is a confirmation of the downward return of the market.
Key Levels:
Intermediate support for an ounce of gold is at $1,932.45.
The first support is located at $1947.47 and there is a possibility of increased buying pressure around this rate. The second support is at 1901 and 1885.88.
The first resistance is formed at 1950.04