On August 4th, spot gold opened near the 4054 level, with the MACD indicator showing upward momentum energy during intraday trading. However, gold prices are experiencing minor fluctuations around the 4054-4049 USD range, and the bulls face significant pressure currently.
The recommended strategy for the early Asian session is to primarily observe and wait from the sidelines. Short-term resistance is suggested to be referenced near the 4065 level, while support is suggested to be referenced near the 4030 level.