Gold (XAU/USD) – Technical Outlook for TodayGold continues its short-term recovery after last week’s sharp selloff from the 4,400 zone. On the 1H timeframe, price has shown early signs of stabilization above the 4,070–4,080 support area, where strong buy-side reaction appeared.
The market is now attempting a corrective move toward the 4,150–4,160 resistance zone, a key structure level that previously acted as support before the breakdown. A successful retest of this area could determine the next directional bias:
Bullish scenario: If buyers can reclaim and hold above 4,160, we may see further upside extension toward 4,300–4,350, aligning with the 0.5–0.618 Fibonacci retracement of the previous down-leg.
Bearish scenario: Failure to break 4,160 may attract renewed selling pressure, possibly leading to another retest of 4,050 or even 4,000.
Technical confluence:
EMA20 turning upward, signaling short-term momentum recovery.
RSI recovering from oversold territory, supporting a potential retracement.
Key resistance zone: 4,150–4,160
Key support zone: 4,070–4,000
In summary, gold is currently in a pullback phase within a broader correction. Traders may look for short-term buy opportunities toward resistance but should watch price behavior closely around 4,160 before deciding the next move.
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