XAU/USD
Spot Gold trades in consolidative mode, with near-term price action being capped by descending 4-hour 55DMA. Fresh strength off 1234, yesterday’s fresh low, improve hourly structure, with 4-hour studies gaining momentum for final push towards 1254, 27/11 high / 55DMA and key near-term hurdle at 1257, 26/11 recovery high, above which to resume recovery rally from 1226. Otherwise, failure under 1257 would keep the downside vulnerable, as loss of 1234 would be a trigger for retest of 1226 and resumption of bear-leg from 1257, towards 1215/08 supports.
- Res: 1254; 1257; 1261; 1269
- Sup: 1240; 1234; 1226; 1215