FX.co ★ FX-Perfact | XAU/USD, GOLD

GOLD Timeframe Daily: Based on the GOLD chart on the Daily timeframe, the price structure indicates a significant change in momentum after experiencing downward pressure for several months. Gold prices briefly moved above $5,000 and then gradually declined to reach the $3,940–$4,070 area. However, after forming a consolidation phase around this lower area, the price began to show a strong recovery and has now returned above the $4,500 area. This indicates that the dominant selling pressure from the previous phase is losing strength and is being replaced by bullish momentum. From a moving average perspective, the 100-day moving average (MA), shown by the blue line, still has a downward slope, even though the price has managed to move significantly above it. This indicates that, in terms of the intermediate trend, GOLD is still in the transition from bearish to bullish. The current price position above the 100-day moving average (MA) is a positive development, indicating that buyers are able to maintain the price above the 100-day moving average. However, because the 100-day MA has not yet fully reversed its upward slope, stronger confirmation of the bullish trend is still needed. Technically, if the 100-day moving average (MA) starts to flatten and then reverses upwards, the recovery signal becomes much more convincing. Meanwhile, the 200-day moving average (MA), shown with a red line, is lower than both the 100-day moving average (MA) and the current price. The 200-day moving average (MA) is a key indicator for identifying long-term trends. A price that has successfully moved above the 200-day moving average (MA) is a constructive signal, indicating that gold is beginning to emerge from long-term bearish pressure. The distance between the price and the 200-day moving average (MA) also indicates that recovery momentum is quite strong. However, traders should still monitor whether the price can maintain its position above both moving averages if a correction occurs.

Regarding resistance, the 4,595.44 area is a crucial level because it represents horizontal resistance that is currently being tested by the price. The chart shows that the price has risen sharply and reached the area around 4,595–4,600. If gold can achieve a strong daily close above 4,595.44, this level has the potential to transform into new support. A successfully maintained breakout could open up opportunities for an increase towards the next resistance at 4,773.93. The 4,773.93 level is the next important resistance level as it is located in the area of the previous swing high. If the price breaks through it with strong momentum, the bullish structure will be further confirmed, and attention can then be directed to 4,890.76. Above this level lies resistance at 5,014.08, followed by 5,130.90 and 5,238.00 as major resistance levels. Therefore, if the uptrend continues, there are several resistance levels that must be overcome before GOLD re-enters the highs on the chart. Conversely, if the price fails to maintain a breakout above 4,595.44, a potential pullback should be considered. The nearest support level is around 4,449.41. This area is quite important because it previously served as the upper limit of the consolidation before the price accelerated upward. If a correction occurs and the price is able to maintain above 4,449.41, this condition can still be considered a healthy pullback within the bullish structure. However, if 4,449.41 is decisively broken, corrective pressure could extend towards the 4,222.24 area. The 4,222.24 support level is a more important level because it is adjacent to the previous consolidation area and serves as a zone where buyers previously held the price. If this level fails to hold, the medium-term recovery structure will begin to lose strength, and the price could potentially retest 4,066.47. The last support level visible on the chart is around 3,939.91. A break below this level would be a significant negative signal, as it could indicate the failure of the previous recovery phase. In terms of price action, the most interesting development is the change in structure from lower highs and lower lows to the formation of higher lows and higher highs in the latest recovery phase. The rise from the 4,066 area towards 4,600 indicates buyers are beginning to take control. However, since the price is now right around the 4,595.44 resistance, this area is a key point for determining the next direction. Pursuing a long position just below resistance carries greater risk than waiting for a confirmed breakout or a pullback towards support.