Lingrid | GOLD Weekly Support Hold Long OpportunityOANDA:XAUUSD pulled back sharply from the resistance and printed a higher low right at the confluence of the uptrend and above previous week low 4,050. Structurally, the broader upward channel remains intact while price retested the downward trendline from above, keeping the higher-low sequence alive. If 4,000–4,050 support continues to hold, it favor a rebound toward 4,245 and, if momentum extends, a run at 4,400; a daily close back below 4,043 would defer the bounce. Broader momentum still skews bullish with successive higher lows, suggesting the recent drop is a corrective pullback within the trend rather than a top.
⚠️ Risks:
A decisive break below 4,000 that invalidates the uptrend confluence could extend losses toward 3,950–3,900.
Strong USD and higher real yields on hawkish Fed rhetoric/data may cap upside or accelerate downside.
Diminishing geopolitical risk or risk-on equity strength could sap haven demand for gold.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
