Gold Price Under Pressure as Resistance Fails to Shift Momentum

Gold (XAU/USD) prices have been under bearish pressure after failing to break above key resistance, which has left its price action uncertain.

A close below Thursday's low of $4,139 would reinforce the bearish implications from price action and suggest that the bearish correction in gold is not complete.

The high of the day at $4,225 was a four-day high and marked a second recent test of resistance near the confluence of the uptrend line and the lower swing high of $4,203 from July.

The failure to break above that resistance is bearish behavior, further supported by Friday's weak close in the lower third of the week's range.