Gold (XAU/USD) remains within a strong bullish structure on the 4-hour chart, trading inside an ascending channel. Recently, price attempted to break above the key resistance near $3,450 but failed, leading to a minor pullback toward the mid-channel area around $3,428–$3,430, where buyers are currently defending support. The key support remains at $3,394–$3,400, which also coincides with the ascending channel’s lower boundary.
As long as price holds above this level, the bullish trend remains intact, and there is potential for a breakout above the $3,450 resistance zone. If a breakout occurs and price closes above $3,450 on the 4-hour chart, the next bullish targets would be around $3,475 and then $3,500–$3,510. On the downside, if price fails to hold $3,394, it may trigger a short-term bearish correction toward the next support zone around $3,380–$3,370.
Overall, gold is currently in a consolidation phase inside the $3,394–$3,450 range, with a bullish bias above $3,394. A breakout above $3,450 may trigger strong upward momentum, while a break below $3,394 could open the door for a deeper correction.
🔑 Key Levels
Support: ~$3,394–$3,400 (channel floor) and intermediate support at $3,430–$3,440 .
Resistance: Immediate resistance zone is $3,445–$3,450, with broader upside potential toward $3,500+ if that break occurs.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
As long as price holds above this level, the bullish trend remains intact, and there is potential for a breakout above the $3,450 resistance zone. If a breakout occurs and price closes above $3,450 on the 4-hour chart, the next bullish targets would be around $3,475 and then $3,500–$3,510. On the downside, if price fails to hold $3,394, it may trigger a short-term bearish correction toward the next support zone around $3,380–$3,370.
Overall, gold is currently in a consolidation phase inside the $3,394–$3,450 range, with a bullish bias above $3,394. A breakout above $3,450 may trigger strong upward momentum, while a break below $3,394 could open the door for a deeper correction.
🔑 Key Levels
Support: ~$3,394–$3,400 (channel floor) and intermediate support at $3,430–$3,440 .
Resistance: Immediate resistance zone is $3,445–$3,450, with broader upside potential toward $3,500+ if that break occurs.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
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