In the short term, pay close attention to the support level around 4223, which is a key defensive position for the bulls. The lower dividing line is at 4213.
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For buying at lower levels, the 4243-50 level could be a good reference point, as it has now become a support level.
Secondarily, the key level to watch is the medium-term support/resistance level around 4195-4200.
#XAUUSD#GOLD
Buy in the 4220-4210 range, with a stop loss below 4200, and targets of 4250-4280-4300. Aggressive traders can enter with a small position at 4230.
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The key resistance zone of 4120-40 has been strongly broken.
Currently, the price has turned into a head and shoulders bottom pattern on the four-hour chart, with the neckline located precisely in the 4110-20 area.
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The range of 4110–4120 represents a resistance zone for trapped investors.
A firm hold above 4080 is needed to improve the outlook.
A break above 4120 would indicate further upside potential.
A break below 4120 would test the 3930–3950 range.
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#Gold Daily Chart:
Upper Bollinger Band highs: 4203, 4166
Lower Bollinger Band support: 3942, 3960
Therefore, the range for this week is narrowed to 4135-3975; expect consolidation.
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#XAUUSD#Gold continues to trade between two major levels:
🟢 4000 → Key support
🔴 4100-4120 → Major resistance
For now, I still see this as a range-bound market rather than the start of a new trend.