#GOLD COULD BE PREPARING FOR A BIG COMEBACK....
$XAU has been under heavy selling pressure, but something interesting is happening near the $3,800–$3,900 support zone.
Price recently tested this major demand area and started showing signs of recovery.
I'm watching for a possible bullish reversal from here.
My key levels:
Current price: Around $4,082
Major support: $3,800–$3,900
Resistance 1: $4,300
Resistance 2: $4,700
Major upside zone: $5,000–$5,200
Could gold be heading back toward $4,700?
If buyers defend the current support and reclaim $4,300, we could see a strong recovery toward the previous double-top resistance.
But if support breaks, the bullish scenario could be invalidated.
I'm watching this zone closely. Gold could be setting up for an interesting move.
$XAU has been under heavy selling pressure, but something interesting is happening near the $3,800–$3,900 support zone.
Price recently tested this major demand area and started showing signs of recovery.
I'm watching for a possible bullish reversal from here.
My key levels:
Current price: Around $4,082
Major support: $3,800–$3,900
Resistance 1: $4,300
Resistance 2: $4,700
Major upside zone: $5,000–$5,200
Could gold be heading back toward $4,700?
If buyers defend the current support and reclaim $4,300, we could see a strong recovery toward the previous double-top resistance.
But if support breaks, the bullish scenario could be invalidated.
I'm watching this zone closely. Gold could be setting up for an interesting move.
