Gold Price is Turning Bearish Fast as Key Support Above $4,300 is Tested

Jakub Dziadkowiec

(07:34 PM UTC)

1 min read

Gold (XAU) is sliding toward the $4,376 support zone as bearish momentum accelerates. The metal broke down from a parallel triangle on May 15 and trades near $4,410 after a 2% daily drop.

Both daily and 4-hour charts flash deepening bearish momentum. Relative strength index readings are pushing into oversold territory, and Bollinger Band Width Percentile expansion confirms the strength of the…

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