XAUUSD markets are navigating through a technical consolidation phase following the recent rally, maintaining underlying bullish momentum despite current volatility. The precious metal is trading between critical levels that will determine the next major directional move.4H chart reveals a complex structure with a retest of the resistance zone around $3,440, gold has initiated a corrective move along the descending channel. The current setup suggests a healthy pullback toward the support zone near $3,330. Breaking above the downward trendline will constitute an important technical signal for bullish continuation.
The higher timeframe provides a broader perspective with an A-B pattern currently forming. Equal tests at resistance levels indicate significant institutional accumulation. The rising trendline (HL) continues to support prices, confirming the long-term bullish structure. The target zone above $3,600 remains viable if gold can successfully break through the current resistance cluster.
Key levels to monitor include the $3,330 support and $3,440 resistance. A decisive break above previous week high could trigger the next leg toward $3,400-$3,450, while failure to hold support might see a deeper correction toward $3,250. The overall technical picture suggests this consolidation represents a continuation pattern within the broader uptrend.
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XAUUSD rebounded strongly from the 3344.7 demand zone, breaking above the downward trendline and pushing into the key 3360–3370 resistance area. The price structure shows an impulsive leg from the support low, followed by a corrective pullback, forming a textbook reversal setup. If bulls defend the breakout area on a retest, a rally toward 3440 becomes increasingly likely, targeting the top of the resistance zone. This breakout attempt suggests the broader trend is shifting upward, with bullish continuation expected.📉 Key Levels
- Buy trigger: bullish retest and bounce from 3344.3–3360 zone
- Buy zone: 3344.0–3360.0 (support flip + trendline confluence)
- Target: 3440.0
- Invalidation: sustained break below 3344.0 revives bearish control
💡 Risks
- False breakout traps above 3360 may lead to abrupt reversals
- Hawkish Fed surprises could pressure gold back into range
- Low volume consolidation near resistance may weaken follow-through
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🌎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.
💰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.