FX.co ★ sudheerkumar | XAU/USD, GOLD

Gold Sellers Push Back Every Attempt to Regain Higher Ground

Hello traders! Here’s my technical outlook based on the current XAUUSD (4H) chart structure. XAUUSD previously turned around from the highs under the Resistance Line and formed a descending structure. Price then tested the Seller Zone with breakouts and was rejected.Currently, XAUUSD is trading below the 4,100 Seller Zone while holding above the 3,940 Buyer Zone. The recent rejection and descending structure suggest a possible continuation lower toward support.As long as XAUUSD remains below the 4,100 Seller Zone and respects the descending Resistance Line, the bearish scenario remains valid. A continuation lower could push price toward the 3,940 Support Level (TP1). However, a breakout and close above 4,100 would weaken the bearish outlook and increase the possibility of further upside.