✅ Gold (XAUUSD) Technical Analysis
1. Trend Structure
- Price is currently pulling back toward a rising trendline (the blue trendline).
- The overall structure still looks bullish as long as the price stays above the trendline.
- Short-term candles show bearish momentum, but it’s corrective, not a strong downtrend.
2. Key Zones Marked on Your Chart
🔵 Trendline Support (Major Support)
- The blue ascending trendline is the first major support.
- If the price taps this level, it’s a potential buy area.
🟪 Supply Zone Above (Resistance)
- The purple zone above is a strong supply area.
- Price previously rejected from this zone multiple times.
3. Possible Scenarios (Based on Your Arrows)
📌 Scenario 1: Bounce from Trendline → Move Up
If gold touches the rising trendline:
- Expect a bullish reaction.
- It could move back toward:
- 4205 – 4210 (supply zone)
- If broken, next resistance is around 4230+
This scenario aligns with your upward arrows.
📌 Scenario 2: Break Below Trendline → Deeper Drop
If price breaks and closes below the trendline:
- This invalidates the bullish structure.
- Expect a drop toward the next support zone (purple zone beneath).
- Targets would be:
- 4185
- 4172–4165
This matches your downward arrows.
4. What to Look for Before Entering a Trade
For Buy:
- Bullish candlestick patterns at the trendline (hammer, engulfing).
- No candle close below the trendline.
For Sell:
- Clean break + retest of the trendline from below.
- Strong rejection from the supply zone around 4205–4210.
5. Summary
- The market is currently pulling back, not reversing.
- Trendline = key level to watch.
- Supply zone = potential sell area if price pushes up.
- Break of trendline = confirms deeper bearish movement.
