Gold Rebounds From Wedge Support With 4,100 Resistance in Focus

Hello traders! Here’s my technical outlook based on the current XAUUSD (1H) chart structure. XAUUSD previously traded inside a descending channel before breaking above resistance, signaling a shift in short-term momentum. After the breakout, price entered a broad recovery but is still trading inside a larger rising wedge, where the 4,100 Seller Zone continues to cap upside attempts. Currently, XAUUSD is holding above the 4,010 Buyer Zone and the wedge support line while remaining below the 4,100 Seller Zone. The latest bounce from support suggests buyers are attempting to regain control. As long as XAUUSD stays above the 4,010 Buyer Zone and continues respecting the wedge support, the bullish scenario remains valid. A sustained rebound could push price toward the 4,100 Seller Zone (TP1). However, a breakdown below 4,010 would weaken the bullish outlook and favor another move lower. Please share this idea with your friends and click "Boost" 🚀

Transakcja zamknięta: osiągnięto wyznaczony cel

We can see that the support held and we got the expected rebound to our target. Congratulations!

LegionQ8

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LegionQ8

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