XAUUSD | Technical Outlook
Market Structure
XAUUSD remains in a strong bullish trend across all key timeframes, pushing into fresh historical record levels, unprecedented and holding firm near the highs. Price is currently trading around $4,865 (based on the latest candles on your charts), with the daily structure showing a clear sequence of higher highs and higher lows. While momentum is still bullish, the lower timeframe (M15/H1) shows tight consolidation near the peak, suggesting the market is digesting gains before the next directional move.
Key Resistance Zone
The nearest supply area is defined by the recent record-high rejection and the intraday spike zone:
- $4,880 – $4,897 (current peak/record-high pressure zone)
A clean breakout and hold above $4,897 would keep buyers firmly in control and open the door for continuation toward the next psychological extension levels visible on the broader scale.
Key Support Zone
Support is layered, with the first meaningful demand coming from the breakout base and short-term pullback shelves:
- $4,850 – $4,835 (first pullback support / breakout retest zone)
- $4,813 – $4,797 (deeper support if profit-taking accelerates)
- $4,763 – $4,746 (major structural support on the intraday curve)
As long as price holds above $4,835, the structure remains constructive and favors continuation.
Expectations
Bullish Scenario (Primary)
Momentum remains bullish while gold holds above $4,835. If buyers reclaim $4,880 – $4,897 with acceptance, the market is likely to print another leg higher, keeping the “buy-the-dip” structure intact.
Bearish Scenario (Alternative)
If gold fails to clear $4,880 – $4,897 and slips back below $4,835, expect a deeper pullback toward $4,813 – $4,797. A breakdown below $4,797 would signal a stronger corrective phase, exposing $4,763 – $4,746 as the next major support region.
Outlook
Gold is bullish at record highs, with trend structure and momentum still favoring the upside. The only near-term risk is a corrective pullback from overextended conditions, but unless price loses $4,835, dips are more likely to be corrective rather than trend-changing.
