XAU/USD Bulls Eye 4510 After Support Zone Rejection

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XAU/USD (Gold) – 15M Technical Analysis

Bias: Bullish Reversal from Support Zone

The chart shows price approaching a well-defined support area around 4456–4466, which has already attracted buyers multiple times. After the recent bearish move, gold is testing this demand zone again, creating the possibility of a bullish reaction.

Key Observations
Strong Support: 4456–4466 zone has acted as a demand area where previous declines were rejected.
Pullback Into Demand: Current bearish candles are retracing into support rather than breaking it decisively.
Potential Double-Bottom Formation: The marked structure suggests buyers may defend the zone and create a reversal pattern.
Risk-to-Reward Favorable: The illustrated setup offers a relatively small stop-loss compared to the projected upside target.
Trade Scenario

Buy Zone: 4456–4466
Stop Loss: 4445.5
Target: 4510–4511

If price forms bullish confirmation (bullish engulfing candle, rejection wick, or higher low) inside the support area, buyers could push gold toward the 4510 resistance region.

Invalidation

A sustained break and close below 4455 would weaken the bullish outlook and could trigger further downside pressure toward lower support levels.

Conclusion

The 15-minute structure favors a bullish rebound from support, provided buyers defend the 4456–4466 demand zone. Confirmation from price action is recommended before entry, with 4510 acting as the primary upside objective.

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