$XAUT Update

#GOLD is compressing below a major descending trendline resistance.

Price is currently around $4,378, with the trendline coming in around $4,390–$4,400. We’ve already seen multiple rejections from this area, so this is an important level to watch.

The bigger resistance zone is around $4,400–$4,416, while the key downside level is $4,308.

RSI is around 63, showing that momentum has recovered, but it’s not yet in an extreme overbought zone.

If gold breaks and closes above $4,416, the bearish structure could start weakening.

But if price gets rejected from the trendline again, a move toward $4,308 looks possible, with the $4,270–$4,290 zone acting as the next major support.