Gold Nears Resistance — Buyers Target $4,130 BreakoutHello traders, here’s my current outlook on Gold (XAUUSD). The market structure shows that Gold has recently shifted from a sharp bearish phase into a short-term recovery pattern, finding solid demand near the $3,940–$3,950 Buyer Zone. After the last strong drop from the $4,130 Resistance Level, price stabilized within this accumulation area and began forming an ascending structure supported by a clear Support Line. Currently, Gold is trading inside a rising wedge pattern — a signal of a tightening market where buyers are gradually gaining ground. The Resistance Line near $4,050 represents a short-term barrier, and a confirmed breakout above this level could open the way for a move toward the $4,130 Resistance Zone (TP1), which aligns with the previous Seller Zone. From my perspective, as long as the price remains above the $3,940–$3,950 Support Zone, the bullish bias remains valid. A successful breakout above $4,050 would likely confirm the continuation of the current upward momentum, targeting $4,130. However, if the price fails to break above resistance and falls below the ascending support line, a short-term pullback toward the Buyer Zone could occur before any new bullish wave develops. In my opinion, the market structure currently favors buyers, with strong support underpinning the move. Therefore, I’m expecting a potential bullish continuation toward $4,130 as the next key target.
