"XAUUSD H4 Analysis: Key Levels to Watch for Potential Breakouts

#XAUUSD H4 Analysis

The #H4 bullish candle failed to close above 2427.20 🔼 . We had highlighted the area below 2527.20 as a key Resistance & Supply Zone 🟠.

However, the price struggled to break and sustain above 2527.20 ❌, facing solid rejections 3-4 times (as marked on the chart). Now, the price is forming Trendline Liquidity 📉.

If #H4 closes bearish below 2500-2494 🔻, there's a strong likelihood that the price will drop to our "High Probability Buy Area" 🛒, located around the Fib 0.5% level around 2464-2454. Caution ⚠️ is advised when positioning.

On the upside, if #H1 manages to close bullish above 2518.50 🔼, we might witness a high-probability setup that could push Gold to a new lifetime high 🥇.