$XAUT is back above $4,100 after sweeping $3,872, but this is not a full gold reversal yet
Price is at $4,102.73 right now. On 1h chart it made a clean V from $3,872.32 low straight up to $4,130.11 high. That sweep of $3,872 was the moment buyers finally stepped in. On 4h chart you can see the bigger damage too, from $4,679 top down to $3,872.10 low. So this bounce is real, but it is still inside a big down move.
The hidden detail is this. On 1D chart, high was $4,865.00. We are still 15% below that high. $4,100 is just a psychological level, not a trend change. Price has to prove it can hold above $4,000 and then take out $4,130.11. Until then, this is just a relief bounce after a deep fall, not a new gold run.
What I like is how price defended $3,872 twice. That level is now the floor everyone is watching. First sweep was $3,872.10, second was $3,872.32. Both times buyers came back fast. That tells me smart money is defending $3,872, not chasing $4,130.
My levels are simple. Support is $4,073.28, that is today low. Below that $4,000, then the big floor $3,872.10. Resistance is $4,130.11, that is today high. Break and hold above $4,130.11 with volume opens $4,222.30, then $4,275.95.
I am not chasing $4,102 middle. If we hold $4,073.28 and close 4h above $4,130.11, I look long toward $4,222.30, stop below $4,073.28. If $4,073.28 breaks and fails to reclaim, I step aside, short toward $4,000 only on confirmed close below. Risk 1 to 2% only, 5x to 10x isolated max.
Tell me honestly, is gold going back to $4,222 or back to $3,872 first?
Comment GOLD if you think $4,130 breaks, DUMP if you think $4,073 breaks.
Tap
$XAUT to trade this $4,073 to $4,130 test.
#GOLD