Gold Bears Stay in Control Below 21-Day SMA
XAU/USD sellers maintain control as gold edges toward the $4,000 threshold, replicating Wednesday's Asian session losses.
XAUUSD
Gold resumed its decline during Asian trading, with sellers retaining control while the price remains below the 21-day simple moving average. The precious metal is now heading toward the $4,000 level, continuing the negative momentum seen earlier in the week.
Technical indicators suggest further downside risk as long as the 21-day SMA caps any recovery attempts. Traders are watching for a decisive break below $4,000, which could accelerate selling pressure.
Source: FXStreet Forex News