Hello traders! Gold (XAUUSD) continues to show resilience as price action holds above the key $3,950 Demand Zone, signaling that buyers are still defending this area effectively. After forming a Double Top pattern near the $4,150 Resistance, the market entered a correction phase, which was guided by a clean break below the neckline, followed by a retracement defined by the Fibonacci Arc. This retracement created a series of Pivot Points that now serve as short-term references for buyers and sellers. The price has since found solid support along the Demand Line, aligning with the overall ascending Trend Line that has held firm since early October. Each rejection from this zone has been met with renewed buying pressure, suggesting that the current move could represent a continuation phase within the larger bullish structure.
Currently, gold is trading around the $4,000 level, consolidating just above its Demand Line. If bullish momentum accelerates from this area, we could see a push toward the $4,080 short-term target, followed by a possible test of the $4,150 major resistance — a critical level for confirming a broader breakout.
My base scenario anticipates a gradual upward move toward $4,080, which aligns with both the trend and key resistance confluence. A clean breakout above $4,150 would open the path for a stronger bullish continuation, potentially toward $4,200+. However, a confirmed breakdown below $3,950 could shift short-term sentiment to bearish, exposing the next support area near $3,900. For now, I maintain a bullish bias, expecting further upside momentum as long as the demand structure holds firm. Manage your risk.
Currently, gold is trading around the $4,000 level, consolidating just above its Demand Line. If bullish momentum accelerates from this area, we could see a push toward the $4,080 short-term target, followed by a possible test of the $4,150 major resistance — a critical level for confirming a broader breakout.
My base scenario anticipates a gradual upward move toward $4,080, which aligns with both the trend and key resistance confluence. A clean breakout above $4,150 would open the path for a stronger bullish continuation, potentially toward $4,200+. However, a confirmed breakdown below $3,950 could shift short-term sentiment to bearish, exposing the next support area near $3,900. For now, I maintain a bullish bias, expecting further upside momentum as long as the demand structure holds firm. Manage your risk.
ปิดการเทรด ด้วยตนเอง
The price broke through both the main and ascending levels and at this stage returned to retest the ascending support level, but that was not our goal.
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน