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Today Technical Analysis: Gold Extends Decline, Breaking Below $4,400 as Bearish Momentum Builds

March 24, 2026, 07:31

Dow Jones Technical Analysis

Dow Jones is currently trading around 46,100. After the strong sell-off toward 45,200 in the previous session. Price staged a sharp rebound but failed to maintain momentum.

The index is now trading slightly below the short-term moving averages, indicating weakening bullish momentum.

Technically, 46,300–46,700 is the key resistance zone. As long as price remains below this region, the downside bias remains. Immediate support sits at 45,800, followed by 45,200, which is a critical level, breaking it could trigger another leg lower.

Dow Jones 1H Chart

Resistance46,62047,00047,280
Support45,24044,87044,650

Brent Technical Analysis

Brent is currently trading near $102 and the chart shows a volatile corrective structure.

Price action is forming a range-bound consolidation after the bounce, with no clear trend dominance yet. The recovery lacks strong follow through, suggesting it may be a pullback within a broader bearish correction.

The moving averages support this neutral-to-bearish view. The MA5 and MA10 are attempting to turn upward, but price is still interacting with the MA20, which is relatively flat. This indicates indecision and lack of strong momentum.

From a technical standpoint, $104–$105 is key resistance, while $100 acts as immediate support. A break above $105 could shift momentum back to bullish, but failure to do so would likely lead to another test of $98–$96 support.

Brent 1H Chart

Resistance$104.37$106.88$108.57
Support$100.00$98.20$96.50

Gold Technical Analysis

Gold is currently trading around $4,390, and the chart shows a well-established short-term downtrend following the sharp sell-off from the $5,000 region. Price continues to form lower highs and lower lows, confirming sustained bearish pressure.

However, in the most recent sessions, price has started to consolidate after hitting $4,100 critical support, forming a short-term base. This sideways movement suggests that the market is temporarily pausing, but there is still no confirmed reversal structure yet.

Price is hovering around the MA20, indicating loss of downside momentum in the short term.

From a levels perspective, $4,450–$4,500 is immediate resistance, aligned with previous structure and moving averages. As long as price remains below this zone, rallies are likely to be corrective. On the downside, $4,300 and $4,100 remain key supports, with a break below $4,300 likely to resume the bearish trend.

Gold 1H Chart

Resistance$4,560$4,677$4,800
Support$4,260$4,100$4,000

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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