FX.co ★ sudheerkumar | New wave of futures

XAUUSD

Hello Traders! ???? What are your thoughts on Gold? Gold has successfully reclaimed the $4,000 support zone following its recent sharp decline, triggering a corrective rebound from a key demand area. Despite this recovery, the broader market structure remains bearish. The current advance is viewed as a corrective pullback within the prevailing downtrend, with price expected to extend toward the $4,170–4,270 resistance zone, where sellers could re-enter the market. This resistance area is supported by a strong technical confluence: Major supply zone around $4,200 Descending trendline resistance 50%–61.8% Fibonacci retracement levels As long as price remains below $4,270, the bearish outlook remains intact. A rejection from this confluence could trigger the next bearish leg, with the first downside target at $3,890. A decisive break below this support would open the door for a move toward lower support levels, reinforcing the broader bearish trend. A sustained break and close above $4,270 would invalidate the bearish outlook and signal that a stronger bullish recovery is underway, potentially opening the door for a move toward the next resistance levels.