Gold remains under selling pressure as RSI stays in weak territo

#XAU/USD#

📊 Market Overview:

Gold is undergoing a corrective decline as market sentiment remains cautious, with major equity indices such as the S&P 500 and Nasdaq trading lower amid short-term profit-taking. Meanwhile, the U.S. Dollar continues to hold firm, keeping pressure on gold and limiting its ability to break above key resistance levels.

📉 Technical Analysis:

• Key Resistance: $3,988 (around the 9-period SMA) and $4,000.
• Nearest Support: $3,959 (recent low) and $3,940.
• EMA: Price remains below the 9 EMA ($3,978), indicating that the short-term trend remains bearish.
• Candlestick / Volume / Momentum: RSI is currently at 37.86, below the 40 level, suggesting bearish momentum continues to dominate. There are no clear signs of a bullish reversal on the lower timeframes yet.

📌 Outlook:

Gold is likely to extend its short-term decline unless it can close above the $3,978 level (9 EMA).

💡 Suggested Trading Strategy:

🔻 SELL XAU/USD: 3,970 – 3,975
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,978

🔺 BUY XAU/USD: 3,950 – 3,955
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,947