Gold pulled back to test a key support zone after a strong breakout above resistance levels, signaling a possible bullish reversal from the recent decline. The price action confirmed a breakout from a parallel downtrend channel, with a 7.15% rise from the recent low of $3,870 to Thursday's high. If support holds above $4,027, the bullish momentum may continue, but a drop below this level could lead to further declines toward $3,975, a critical Fibonacci retracement level. This suggests the recent low may have ended the corrective phase from August, indicating a potential trend reversal.
Gold price action is marked by a 7.15% rise from its recent low, signaling a potential bullish reversal. For readers following US stocks on Pluang, here is the market snapshot as of Nov 07, 2026 04:41 WIB: out of 150 priced US stocks, 70 rose and 79 fell. Notable movers include NVAX at USD 10.67 with a 9.10% gain, INTC at USD 56.81 up 8.73%, and ASX at USD 32.16 rising 8.21%.
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