Gold (xauusd): Resistance Flip Could Open Path to 5,400+
Hi!
Gold is currently compressing below a key resistance zone while forming a short-term recovery structure after breaking the local descending trendline. Price is now approaching a decisive area where momentum could shift bullish if buyers step in with volume.
The main level to watch is the blue resistance zone around 5,070 – 5,120.
If price breaks and holds above this area, it would confirm strength and open the path for continuation toward the pink target zone near 5,380 – 5,450.
From a macro perspective, geopolitical tensions are still providing underlying support for gold demand. This increases the probability that any confirmed breakout could be sustained rather than turning into a fake move.
Trading Plan:
Bullish scenario: Breakout and acceptance above ~5,100 → Look for long continuation setups.
Target: 5,400 region.
Invalidation: Rejection and move back below the resistance zone.
Gold is currently compressing below a key resistance zone while forming a short-term recovery structure after breaking the local descending trendline. Price is now approaching a decisive area where momentum could shift bullish if buyers step in with volume.
The main level to watch is the blue resistance zone around 5,070 – 5,120.
If price breaks and holds above this area, it would confirm strength and open the path for continuation toward the pink target zone near 5,380 – 5,450.
From a macro perspective, geopolitical tensions are still providing underlying support for gold demand. This increases the probability that any confirmed breakout could be sustained rather than turning into a fake move.
Trading Plan:
Bullish scenario: Breakout and acceptance above ~5,100 → Look for long continuation setups.
Target: 5,400 region.
Invalidation: Rejection and move back below the resistance zone.
Trade active
the breakout happenedTrade closed: target reached
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
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.
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
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.