#xauusd#gold
Gold prices rebounded strongly after finding strong support around $4000 on the hourly chart, breaking the short-term downtrend.
Currently, the price is trading around $4050, undergoing a pullback after the recent rise. The $4050-$4030 range is a key support level for this correction. As long as this range holds, the price will likely resume its upward trend after the pullback and consolidation phase, with the primary target being the mid-term resistance level of $4080-$4100.
However, if the price breaks below the key support level of $4000, the current rebound will be invalidated, and the downtrend will resume.