Gold is currently trading around 4,194, near a major resistance zone. For tomorrow, I’m leaning towards a short-term BUY setup. Why? The descending trendline has been broken, indicating that bullish momentum may be building up.
However, we must remember that the higher-timeframe trend is still bearish. In my view, this could be a healthy corrective recovery before Gold potentially resumes its broader downtrend.
🎯 KEY LEVELS TO WATCH
🔹 4,179–4,163 | Initial Pullback Zone
At the start of tomorrow’s session, Gold may see a minor pullback towards this zone. If buyers step in and bullish candle confirmation appears, the recovery could continue.
🔹 4,194–4,217 | Major Resistance + Fibonacci Confluence
This is the first major hurdle. Strong selling pressure may emerge here. Gold needs to break through this zone before the next leg higher can develop.
🔹 4,245–4,258 | Resistance + Fibonacci Zone
If Gold clears the first resistance, this will be the next key area to watch. Sellers may step in again, so wait for confirmation.
🔹 4,272–4,285 | Reaction Zone
A successful breakout above the previous resistance could push Gold towards this zone, where price may pause or pull back before moving higher.
🔹 4,297–4,310 | Major Resistance / Potential Gap-Fill Zone
This is my potential upside target for the recovery. Gold may attempt to fill the gap in this area, but I expect some reaction when price reaches this zone.
📈 MY BULLISH SCENARIO
My preferred scenario is:
➡️ Pullback towards 4,179–4,163
➡️ Bullish reaction with candle confirmation
➡️ Breakout above 4,194–4,217
➡️ Further resistance tests at 4,245–4,258 and 4,272–4,285
➡️ Potential move towards 4,297–4,310
Of course, Gold must clear each resistance zone before reaching the final target.
⚠️ IMPORTANT REMINDER
Although I favour a short-term BUY setup, the broader trend remains bearish. This recovery may simply be a correction rather than a complete trend reversal.
If Gold fails to hold the pullback zone or faces strong bearish rejection at resistance, I’ll reassess the bullish scenario rather than chase the price.
My plan is to favour the recovery, but let price action confirm the entry. Patience is key.
👀 Will Gold continue its recovery towards 4,300, or will sellers take control again?
⚠️ This is my personal market analysis for educational purposes only. It is not financial advice or a recommendation to buy or sell. All scenarios are conditional, and trading involves risk.
#XAUUSD #GoldAnalysis #GoldTrading #PriceAction #TechnicalAnalysis #ForexTrading #SophieTrade
However, we must remember that the higher-timeframe trend is still bearish. In my view, this could be a healthy corrective recovery before Gold potentially resumes its broader downtrend.
🎯 KEY LEVELS TO WATCH
🔹 4,179–4,163 | Initial Pullback Zone
At the start of tomorrow’s session, Gold may see a minor pullback towards this zone. If buyers step in and bullish candle confirmation appears, the recovery could continue.
🔹 4,194–4,217 | Major Resistance + Fibonacci Confluence
This is the first major hurdle. Strong selling pressure may emerge here. Gold needs to break through this zone before the next leg higher can develop.
🔹 4,245–4,258 | Resistance + Fibonacci Zone
If Gold clears the first resistance, this will be the next key area to watch. Sellers may step in again, so wait for confirmation.
🔹 4,272–4,285 | Reaction Zone
A successful breakout above the previous resistance could push Gold towards this zone, where price may pause or pull back before moving higher.
🔹 4,297–4,310 | Major Resistance / Potential Gap-Fill Zone
This is my potential upside target for the recovery. Gold may attempt to fill the gap in this area, but I expect some reaction when price reaches this zone.
📈 MY BULLISH SCENARIO
My preferred scenario is:
➡️ Pullback towards 4,179–4,163
➡️ Bullish reaction with candle confirmation
➡️ Breakout above 4,194–4,217
➡️ Further resistance tests at 4,245–4,258 and 4,272–4,285
➡️ Potential move towards 4,297–4,310
Of course, Gold must clear each resistance zone before reaching the final target.
⚠️ IMPORTANT REMINDER
Although I favour a short-term BUY setup, the broader trend remains bearish. This recovery may simply be a correction rather than a complete trend reversal.
If Gold fails to hold the pullback zone or faces strong bearish rejection at resistance, I’ll reassess the bullish scenario rather than chase the price.
My plan is to favour the recovery, but let price action confirm the entry. Patience is key.
👀 Will Gold continue its recovery towards 4,300, or will sellers take control again?
⚠️ This is my personal market analysis for educational purposes only. It is not financial advice or a recommendation to buy or sell. All scenarios are conditional, and trading involves risk.
#XAUUSD #GoldAnalysis #GoldTrading #PriceAction #TechnicalAnalysis #ForexTrading #SophieTrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.