XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD is undergoing a corrective pullback following a strong bullish impulse that pushed price to fresh multi-month highs. The recent sell-off from the upper resistance zone represents a technical correction rather than a full trend reversal, as the broader daily structure remains bullish.
After the sharp rejection from the recent peak, price has rebounded and is now stabilizing above a key structural level near $5,060, suggesting buyers are attempting to regain control and defend the broader uptrend.
Key Resistance Zone
The nearest resistance is located at $5,100 – $5,130, an area defined by recent rejection and short-term supply pressure. Any recovery toward this zone is likely to face selling interest initially.
Additional resistance levels:
- $5,200
- $5,280 – $5,300 (major bullish continuation barrier)
A sustained break and hold above $5,130 would signal renewed bullish momentum and open the door for continuation toward higher highs.
Key Support Zone
Immediate support is positioned around $5,050 – $5,060, where price is currently attempting to stabilize after the correction.
A breakdown below $5,050 would expose lower support levels:
- $4,980
- $4,900 – $4,920 (major structural support)
Failure to hold the $4,900 region would weaken the bullish structure and increase the risk of a deeper corrective phase.
Expectations
Bullish Scenario (Primary)
As long as XAUUSD holds above $5,050, the broader bullish structure remains intact.
A sustained move above $5,130 could trigger continuation toward:
- $5,200
- $5,280 – $5,300
This scenario favors trend continuation following a healthy pullback.
Bearish Scenario (Alternative)
If price fails to hold $5,050, selling pressure may increase, pushing gold toward $4,980 and potentially $4,900.
A decisive break below $4,900 would signal a deeper correction and temporarily shift market control back to sellers.
Outlook
Gold remains structurally bullish on the daily timeframe despite the recent sharp pullback. Buyers are actively defending a critical support zone, suggesting the move lower is corrective in nature. The outlook remains constructive above $5,050, while a break below $4,900 would significantly weaken the bullish bias and delay further upside attempts.
