Gold Facing Short-Term Correction Pressure

  • June 1, 2026
  • Posted by: EWGFX
  • Category: Technical analysis
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Market Overview
Gold prices are currently moving within a consolidation range after correcting from the recent peak. The more distant price levels represent areas where buyers and sellers previously reacted strongly, serving as important barriers if the market breaks out of the current range.

Technical Analysis
Resistance Zones
o Resistance 1: 4,560
o Resistance 2: 4,580

Support Zones
o Support 1: 4,483
o Support 2: 4,450

Outlook:
If gold successfully breaks above 4,535, bullish momentum could extend toward 4,562. On the other hand, if selling pressure pushes prices below 4,500, gold may retest the deeper support area around 4,483.

Wide-Range Trading Strategy

SELL XAU/USD: 4,562 – 4,565
TP: 40 / 80 / 200 / 300
SL: 4,570

BUY XAU/USD: 4,483 – 4,480
TP: 40 / 80 / 200 / 300
SL: 4,475