Gold Weakens After Channel Breakdown – Watching 4,000$ Support

Jul 8

Hello traders! Here’s my technical outlook based on the current XAUUSD (1H) chart structure. XAUUSD previously traded inside a rising channel after reversing from the 4,000 Buyer Zone. The recovery remained constructive until price reached the 4,100 Seller Zone, where strong resistance triggered a rejection and ended the short-term bullish momentum. Currently, XAUUSD is trading below the 4,100 Seller Zone while holding above the 4,000 Buyer Zone. Price has broken below the ascending support line, signaling weakening bullish momentum and increasing the probability of a deeper pullback. As long as XAUUSD remains below the 4,100 Seller Zone, the bearish scenario remains valid. A continuation lower could push price toward the 4,000 Buyer Zone (TP1), where buyers may attempt to regain control. Please share this idea with your friends and click "Boost" 🚀

Jul 9

Trade active

We came very close to the buyer's zone where the market reacted and corrected upwards. Let's see if the sellers will renew the pressure again!

Jul 12

Trade closed: target reached

We were able to drop to the level of 4020, which is also a good result, not the final one as we expected. But still the price continued to decline. At the level a little earlier, buyers intervened and the price went up!