James Stanley: Gold support tested at 4170 with resistance at 4200-4235

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Gold support at 4170, resistance at 4200-4235

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Yaroslav Dmytrenko

7 hours ago

James Stanley: Gold support tested at 4170 with resistance at 4200-4235 — Gold support at 4170, resistance at 4200-4235

Gold is testing support at 4170, with resistance currently in the 4200-4235 area. James Stanley, senior strategist at DailyFX, described the current gold chart as having an inverse head and shoulders formation, with the neckline at the current resistance zone.

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Stanley previously highlighted gold's rebound after finding support, with market attention turning to the 4200 and 4235 levels for the weekly close in his recent analysis. He has also tracked technical setups in other markets, including potential reversal patterns in EURUSD as sellers held above recent lows in a prior report. These comments come as gold approaches key chart levels this week.

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