Gold Falls Back from $4,119 as Sellers Gain Advantage

Gold futures began the new trading week strong, reaching $4,119.30 before reversing and falling back to the lower edge of a crucial support area. Despite this setback, gold is still holding above key technical levels, with some analysts suggesting that it may be due for a rebound.

The reversal from the higher price was led by a combination of indicators, including the session VWAP around $4,100-$4,102, and cumulative delta turning negative. The developing point of control also migrated from approximately $4,105 to $4,093, further supporting the bearish case.

However, gold remains vulnerable to two-way movement within the current decision zone of $4,084-$4,108. Traders looking for a larger directional move may prefer to wait for acceptance outside this range before entering a position.