Gold Pulls Back After Hitting $3,895 – Consolidation Before 3900📊 Market Overview
Gold reached a new high at $3,895, approaching the psychological $3,900 level, before facing profit-taking pressure and retreating toward $3,885. The market shows caution when testing strong resistance, as the USD remains weak and safe-haven demand persists.
📈 Technical Analysis
• Near-term Resistance: $3,895 – $3,900
• Strong Resistance: $3,915
• Near-term Support: $3,873 – $3,870
• Strong Support: $3,860 – $3,850
• EMA20 (H1): Price remains above EMA20, keeping the short-term uptrend intact.
• H1 Candlestick: Long upper wick at $3,895 indicates strong selling pressure at resistance, raising the risk of a short-term pullback.
📌 Outlook
Gold maintains its short-term bullish trend, but the $3,895–$3,900 zone remains a key barrier. A breakout could push price to $3,915, while a correction to $3,880–$3,872 would be normal consolidation before further gains. A break below $3,872 may drive price toward $3,860.
🎯 Trading Strategy
🔺 BUY XAU/USD
• Entry: $3,872 – $3,869
• 🎯 TP: 40 / 80 / 200 pips
• 🛑 SL: $3,866
