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Gold prices are weakening after breaking the ascending channel on the daily timeframe and losing the key support zone at 4,380–4,400 USD. The price structure has shifted to lower highs and lower lows, confirming a corrective trend. Although RSI has entered oversold territory, potentially triggering short-term rebounds, downside pressure remains dominant. A break below 4,250–4,300 USD could push prices toward 4,100 USD or lower. Conversely, a move above 4,400 USD may open the door for a recovery toward 4,600–4,650 USD.
On the daily timeframe, gold’s ascending channel has been broken as price lost the key support zone around 4,380–4,400 USD and is now trading below both the EMA50 and EMA100, indicating that bearish momentum is currently dominant.
The loss of the 4,380–4,400 USD support zone and sustained trading below the EMA50 and EMA100 confirm that a bearish structure has clearly formed. While short-term technical rebounds may occur, the primary trend remains tilted to the downside if key support levels continue to break.
Price structure has shifted into a lower high – lower low formation, reflecting a developing corrective trend following the rejection from previous highs. Meanwhile, the daily RSI has moved into oversold territory, suggesting that short-term technical rebounds may occur, although the broader bias remains tilted to the downside.
In terms of key levels, the 4,250–4,300 USD area is acting as the nearest support. A decisive break below this zone could open the way for a retest of the 4,100 USD level, with further downside extension toward the next support zones around 4,000 USD and 3,900 USD.
On the upside, if buying pressure returns and pushes price back above the 4,400 USD resistance, a recovery toward the 4,600–4,650 USD region could unfold. This area also aligns with the EMA100, which is currently acting as a dynamic resistance level.
24.3.2026
Gold (XAUUSD)
(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)
Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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