XAU/USD | Gold Update : Watching 4192 and 4240 Closely!
By analyzing the #gold chart on the 4 hour timeframe, we can see that price followed the previous analysis perfectly and hit the first target at $4240, even pushing slightly higher to $4242. After that move, gold pulled back and corrected all the way down to $4175. Right now gold is trading around $4192, which is basically a neutral zone with no clear direction yet.
We need to see whether price can climb back above $4240 again or not. One important point: if gold fails to hold above $4192 within the next hour, we might see another heavier drop. Keep an eye on the reaction to these key levels. I will update this analysis again soon.
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Best Regards , Arman Shaban