XAU/USD at a Key Decision Point

Jul 7

Hi!

Gold is testing a major confluence zone where the descending trendline meets horizontal resistance around 4,149. This area will likely determine the next significant move.

If buyers manage to break and hold above 4,149, it would confirm a trendline breakout and open the door for a move toward the 4,493 resistance.

However, if the price gets rejected from this level, a pullback into the 4,100 support zone becomes the more likely scenario. Losing that support could send gold back toward 4,020, with further downside possible if bearish momentum increases.

Key Levels:

• Bullish Trigger: Above 4,149
• Upside Target: 4,493
• Support: 4,100

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Jul 8

Note

Please pay attention to the analysis. A long position will be considered only after a breakout above the trendline.

#Gold #XAUUSD

Jul 8

Note

#Gold has not yet managed to break above the trendline and has instead reacted to the latest war-related news.