Gold is rebounding today after two straight days of sharp declines, trading up $46 (+1.13%) at $4,145. The session high reached $4,149.86, while the low touched $4,066.17.
Yesterday, the metal dropped for a second consecutive session, finding support near $4,004—just above the key psychological level at $4,000. That low held well above the 38.2% retracement of the rally from the late-July low at $3,955.77, which remains a critical support marker.
For sellers to regain control, a sustained move below $3,955.77 would be required. Until then, the broader uptrend remains technically intact.
This article was written by Greg Michalowski at investinglive.com.