XAU/USD is experiencing a controlled pullback after reacting from a significant resistance zone. Price is now approaching an ascending trendline that has supported the market throughout the recent advance.
The descending channel highlights the current corrective phase. A successful reaction from the trendline followed by a move above 4,085–4,090 could improve short-term momentum and shift attention toward 4,110–4,120. If buying pressure continues to build, the next technical objective may develop near 4,165–4,170.
This analysis is based entirely on chart structure and is intended for educational discussion.
Technical Levels
Resistance
4,085–4,090
4,110–4,120
4,165–4,170
Support
4,055–4,060
4,040
4,020
Potential Price Objectives
Initial objective: 4,090
Second objective: 4,120
Final objective: 4,165–4,170
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
No comments yet. Be the first to share your view.