XAUUSD Short: Bears Defend Resistance – 4,120 Remains in Focus

Jun 12

Hello traders! Here’s my technical outlook based on the current XAUUSD (4H) chart structure. XAUUSD previously traded inside an ascending channel before breaking below support at a major pivot point, signaling a shift in momentum. After a brief consolidation, sellers regained control and extended the decline.

Currently, XAUUSD is trading below the 4,280 Supply Zone while approaching the 4,120 Demand Zone. The recent breakdown below the descending trendline confirms that bearish pressure remains dominant, while the latest rebound looks corrective.

As long as XAUUSD stays below the 4,280 Supply Zone, the bearish scenario remains valid. A rejection from current levels could drive price toward the 4,120 Demand Zone (TP1). Manage your risk!

Jun 14

Trade active

So far, there has been no significant price movement. The price consolidates before the next move. so let's watch!

Jun 16

Order cancelled

As long as the price was able to consolidate above the resistance, our scenario is canceled!