Gold is trading around 4,128 on the M30 chart after a strong recovery. Price is now pressing into the 4,150 Major Resistance zone, where the next reaction could determine whether the rally extends or begins a deeper pullback.
Market Drivers
Gold has climbed to a two-week high as the U.S. dollar and Treasury yields weakened following the U.S. midterm elections. Spot Gold reached around 4,135, while the 10-year Treasury yield fell to 4.87%. Markets are now looking toward Friday’s U.S. jobs report, while expectations for a December Fed hike remain elevated.
Technical
The M30 structure remains strongly bullish after the latest displacement, but price is approaching a major resistance area around 4,145–4,150.
A rejection here could trigger a pullback toward 4,100, with 4,050 acting as the key breakout support. A sustained breakout above the resistance zone would instead keep the recovery structure active toward the 4,225 Major Reaction Resistance.
Main Scenario
The main scenario is a reaction from 4,145–4,150.
If sellers defend this zone, Gold could retrace toward 4,100 and potentially 4,050. If buyers sustain acceptance above the resistance, the bearish pullback scenario would weaken.
Key Zones
4,225+ — Major Reaction Resistance
4,145–4,150 — Major Resistance
4,050 — Key Breakout Support
3,919.173 — Major Swing Low
Invalidation
A sustained M30 breakout and acceptance above 4,150 would weaken the rejection scenario and support continuation toward the higher resistance zone.
Tiara’s View
Gold is approaching a major decision area. 4,145–4,150 is the key resistance to watch; rejection keeps 4,050 in focus, while a confirmed breakout would favor further upside.
Market Drivers
Gold has climbed to a two-week high as the U.S. dollar and Treasury yields weakened following the U.S. midterm elections. Spot Gold reached around 4,135, while the 10-year Treasury yield fell to 4.87%. Markets are now looking toward Friday’s U.S. jobs report, while expectations for a December Fed hike remain elevated.
Technical
The M30 structure remains strongly bullish after the latest displacement, but price is approaching a major resistance area around 4,145–4,150.
A rejection here could trigger a pullback toward 4,100, with 4,050 acting as the key breakout support. A sustained breakout above the resistance zone would instead keep the recovery structure active toward the 4,225 Major Reaction Resistance.
Main Scenario
The main scenario is a reaction from 4,145–4,150.
If sellers defend this zone, Gold could retrace toward 4,100 and potentially 4,050. If buyers sustain acceptance above the resistance, the bearish pullback scenario would weaken.
Key Zones
4,225+ — Major Reaction Resistance
4,145–4,150 — Major Resistance
4,050 — Key Breakout Support
3,919.173 — Major Swing Low
Invalidation
A sustained M30 breakout and acceptance above 4,150 would weaken the rejection scenario and support continuation toward the higher resistance zone.
Tiara’s View
Gold is approaching a major decision area. 4,145–4,150 is the key resistance to watch; rejection keeps 4,050 in focus, while a confirmed breakout would favor further upside.
Trade active
Price moved broadly in line with the projected bearish plan. Gold rejected the 4,135–4,150 Major Resistance area and dropped roughly $69, confirming that sellers remain active around the upper structure.
Price is now trading near 4,097, consolidating above the 4,075 reaction low. The bearish structure remains valid while Gold stays below 4,135–4,150.
If sellers regain momentum, the next important downside area is 4,030–4,050 Key Breakout Support. A clean break below that zone would weaken the recent bullish recovery structure. For now, the plan remains active, with resistance still controlling the short-term direction.
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🌸Tiara PrimeGold·XAUUSD·Price Action made simple
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Daily analysis update real time London & NY session
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🔔Follow to learn one new thing every day
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Daily analysis update real time London & NY session
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🔔Follow to learn one new thing every day
Personal analysis only—not financial advice
Related publications
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.