$XAU (Gold) Technical Analysis
XAU is currently trading around 4,910, showing signs of consolidation after a sharp corrective move from the recent swing high near 5,625. On the 4H timeframe, price previously formed a strong bearish leg down to 4,444, which now acts as a major demand and structural support zone. From this base, XAU attempted a recovery but is facing rejection near 5,050–5,100, indicating active selling pressure at higher levels. The market structure suggests a range-bound to corrective trend unless a clear breakout occurs. Immediate support lies at 4,850, followed by 4,650–4,450, where buyers are expected to defend aggressively. On the upside, key resistance zones are 5,050, 5,250, and the major supply area at 5,600+. A sustained break and hold above 5,100 could trigger bullish continuation toward 5,300–5,600, while failure to hold 4,850 may lead to another liquidity sweep toward the lower support range. Overall, $XAU remains technically sensitive, offering high-probability trading opportunities for traders who wait for confirmation at key support and resistance levels.
Disclaimer: I am not your financial advisor.
