XAUUSD markets have encountered significant resistance at the $3,450 level, resulting in a notable rejection and subsequent pullback toward support zones. The precious metal is now testing critical technical levels that will determine whether the broader bullish momentum can be sustained or if deeper correction is imminent.The 4H chart reveals a clear level rejection at the resistance zone, followed by an impulse leg lower that has broken the upward trendline. This development suggests a potential shift in short-term momentum, with gold now trading within the consolidation zone between $3,365 and $3,285. The break of the ascending trendline is particularly significant, indicating that bulls may be losing control of the immediate price action.
The second chart provides valuable context with the weekly and 16-hour timeframe analysis. The pinbar rejection candle on the weekly chart confirms strong selling pressure at these elevated levels. The 16-hour chart shows multiple tests of the upward trendline, with the recent break potentially signaling a bearish impulse leg. However, the overall structure remains within the broader ascending channel, suggesting this could be a healthy correction within the long-term uptrend.
Critical levels to monitor include the $3,285 support zone and the broken trendline at $3,365. A decisive break below $3,285 could trigger a deeper correction toward $3,200, while reclaiming the upward trendline would restore bullish momentum toward new highs.
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GOLD was rejected sharply at the resistance zone near 3440 after testing the upper boundary of the ascending channel. The impulse leg pushed the price below the former consolidation zone, suggesting sellers are regaining control. A minor pullback is currently unfolding toward the broken support (now resistance) around 3367–3380 before another potential move downward. The target sits near 3300, aligned with the upward trendline acting as dynamic support.📉 Key Levels
- Sell trigger: Bearish rejection near 3370
- Sell zone: 3367 – 3380
- Target: 3300
- Invalidation: Daily close above 3385
💡 Risks
- Uptrend line at 3300 may attract aggressive dip buyers
- Strong economic news can spark sudden bullish reversals
- Consolidation before breakdown may delay bearish continuation
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Disclaimer
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.