FX.co ★ XAU/USD, GOLD

Hello traders, Buyers in gold (#GOLD) actively tested the important resistance level around 4640 yesterday, but failed to break through it, despite the relatively high volumes during the test. This failure looks like an attempt to resume the positions of large bears. Apparently, a significant cluster of limit sell orders is located around the 4640 level, making it difficult to break through, at least for now. Overall, I still prioritize selling, so today I will be waiting for gold (#GOLD) to continue the downward movement that started yesterday in the second half of the trading day towards the nearest local support level at 4570.