Gold is currently testing a strong resistance zone around 4840, showing multiple rejections and weak bullish momentum. Price structure indicates a potential lower high formation.
A rejection from this zone could trigger a bearish move towards the 4800 level, with extended downside targets near 4780 support.
🔹 Key Levels:
Resistance: 4840 – 4860
Support: 4800 – 4780
📊 Bias: Bearish below 4840
⚠️ Break above resistance invalidates this setup and may lead to further upside
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