XAU/USD | Gold Rebounds Strongly From $4310, More Upside Ahead?

Aug 17

By analyzing the #Gold chart on the 2H timeframe, we can see that price once again followed the expected scenario almost perfectly. Gold first entered a deeper correction and dropped toward the $4310 region, where strong demand stepped in.

After that reaction, buyers regained control and pushed Gold aggressively higher, with price reaching above $4429 so far. Currently, Gold is trading around $4418 and, in my view, this bullish move still has room to continue.

If buyers maintain momentum, the next upside targets to monitor are $4430, followed by $4450, then $4470, and potentially the major psychological $4500 level.

For now, the bullish structure still looks healthy and the main question is whether buyers can continue defending the recent higher levels. This analysis will be updated as the market evolves.

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Best Regards , Arman Shaban

Aug 18

Trade closed: target reached

By analyzing the #Gold chart on the 2H timeframe, we can see that after the previous analysis, price initially continued higher as expected, reached our $4430 target, and even extended toward $4436. However, the bullish move lost momentum from there and Gold entered a deeper correction, dropping as low as $4351 today.

The most important area to watch now is the $4311 – $4343 demand zone. In my view, this zone could determine the next major short-term move. If buyers successfully defend this area, Gold could start another strong bullish wave. The next upside targets would be $4380, followed by $4400, $4430, $4450, and potentially the major $4500 level.

However, if sellers manage to break below $4310 and price stabilizes underneath this level, the bullish scenario would weaken significantly and Gold could move back into the $4200 range. In that case, $4280, $4250, and $4220 would become the next downside levels to monitor. For now, all eyes are on the $4311 – $4343 demand zone. The reaction from this area should give us a much clearer picture of Gold’s next move.