Gold (XAU/USD) just lately took a pointy dive to commerce at $2,711 after falling 1%, pushed by a robust bearish transfer that reduce via key ranges.
At present, the rapid help is at $2,701, with the subsequent help ranges at $2,692 and $2,684 if draw back momentum continues. Rapid resistance is now round $2,725, with additional boundaries at $2,743 and $2,752.
The 50-day EMA is at $2,740, whereas the 200-day EMA at $2,742 – each above the present value – reinforces bearish sentiment.
The substantial sell-off, coupled with a bearish engulfing candle, indicators potential for additional declines. For now, the sellers look like in management so long as gold stays beneath $2,725, with restricted indicators of reversal.