After a strong breakout, Gold continues to maintain its bullish market structure, printing higher highs and higher lows as buyers remain in control. However, following a rally of more than 1,000 pips, the market has entered a short-term consolidation phase as profit-taking emerges near recent highs.
The 4230–4240 area is now acting as immediate support. As long as this zone holds, Gold is expected to resume its uptrend toward 4290–4305, with an extended target around 4370–4380.
If selling pressure increases and price breaks below 4230–4240, a deeper correction toward 4175–4190 could develop. Even so, this would still be considered a healthy pullback within the broader bullish trend, provided the higher-low structure remains intact.
📍 Key Levels:
🔹 4230–4240
Primary support zone and preferred buying area.
🔹 4175–4190
Secondary support if a deeper pullback occurs.
🔹 4290–4305
First upside objective after bullish confirmation.
🔹 4370–4380
Major resistance and medium-term bullish target.
✅ Preferred Scenario:
Price holds above 4230–4240.
Wait for a pullback and bullish confirmation before entering long positions.
Initial upside targets: 4290–4305.
Extended bullish target: 4370–4380.
If 4230 fails, monitor 4175–4190 for the next buying opportunity.
Bias: 🟢 BUY – The primary trend remains bullish. Focus on buying pullbacks rather than chasing price at highs.
The 4230–4240 area is now acting as immediate support. As long as this zone holds, Gold is expected to resume its uptrend toward 4290–4305, with an extended target around 4370–4380.
If selling pressure increases and price breaks below 4230–4240, a deeper correction toward 4175–4190 could develop. Even so, this would still be considered a healthy pullback within the broader bullish trend, provided the higher-low structure remains intact.
📍 Key Levels:
🔹 4230–4240
Primary support zone and preferred buying area.
🔹 4175–4190
Secondary support if a deeper pullback occurs.
🔹 4290–4305
First upside objective after bullish confirmation.
🔹 4370–4380
Major resistance and medium-term bullish target.
✅ Preferred Scenario:
Price holds above 4230–4240.
Wait for a pullback and bullish confirmation before entering long positions.
Initial upside targets: 4290–4305.
Extended bullish target: 4370–4380.
If 4230 fails, monitor 4175–4190 for the next buying opportunity.
Bias: 🟢 BUY – The primary trend remains bullish. Focus on buying pullbacks rather than chasing price at highs.
📊 XAUUSD & Forex Trading📈 Intraday setups – risk-managed⏱️ Live alerts + technical reasoning🧠 Consistency over hype📌 Trade the plan. Manage the risk.👉 Full signals & real-time insights
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.
📊 XAUUSD & Forex Trading📈 Intraday setups – risk-managed⏱️ Live alerts + technical reasoning🧠 Consistency over hype📌 Trade the plan. Manage the risk.👉 Full signals & real-time insights
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.