Gold Seeks a Near-Term Cue as the Correction Persists 31/10/2025

Price action is choppy: yesterday’s rebound topped at $4,046 after a dip to $3,915, but no clean trend has emerged.

Technical outlook

• The 4H simple moving averages slope lower and sit above price, acting as dynamic resistance and capping recovery attempts.
• An earlier rising trendline break keeps bears in control.
• RSI momentum is fading and failing to confirm bounces, consistent with a weak/Corrective upside.

Base case (bearish while below $4,050–4,060)

• As long as price holds below $4,050/60, downside risk prevails.
• Break/4H close below $3,975 → opens $3,928; below that exposes a deeper correction toward $3,856.

Invalidation / upside toggle

• Reclaiming and holding above $4,050–4,060 would neutralize immediate downside pressure and allow a corrective push toward ~$4,100.

Risk note
Gold volatility remains elevated amid trade/geopolitical tensions. Consider reduced position size and hard stops, and reassess quickly if the key levels above are breached.

Risk Disclaimer: Trading CFDs involves risks, and therefore all scenarios may be plausible. The content above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.

S1: 3928.00	R1: 4060.00
S2: 3856.00	R2: 4118.00
S3: 3797.00	R3: 4190.00