4/8 Gold Trading StrategyYesterday, gold dipped to the 2950 support zone, still under bearish pressure. However, the market did not enter into an extreme one-sided sell-off. Instead, an intraday rebound suggested that short-term buying interest is beginning to emerge.
Following last week's and yesterday’s sharp correction, the 1-hour technical structure has started to show early signs of a potential bottom. While a retest of the 2960–2950 area in the near term cannot be ruled out, the broader price action now supports the technical conditions for a medium- to short-term rebound.
Currently, gold is stabilizing around the 2980-2960 level. Even if additional bearish pressure emerges, the maximum downside support is expected in the 2919–2888 range. This suggests a likely transition into a low-level consolidation and base-building phase, rather than a continued steep decline.
From a technical perspective, the 3100 zone is a key corrective target for this pullback. The market may gradually move higher to complete a structure recovery, offering a limited-risk, clearly defined opportunity for the bulls.
📌 Key intraday resistance levels:
3018 → 3037 → 3058 → 3079
📌 Trading Strategy for Today:
🟢 Buy Zone: 2976 – 2948
🔴 Sell Zone: 3048 – 3062
🔁 Scalp/Range Zone: 3032 – 2998
