Gold (XAU/USD) – Technical Analysis (H4)
Gold is completing a W-shaped reversal pattern on the H4 chart. Resistance in the $4,315–4,355 zone is expected to prove difficult for bulls to overcome, raising the likelihood of a pullback toward $4,200.
Gold is completing the formation of a W-shaped reversal. In this context, bulls are likely to find it extremely difficult to overcome resistance in the $4,315–4,355 zone. Profit-taking at these levels would appear entirely appropriate, as would interaction with a cluster of pending short orders. Consequently, a pullback from this zone toward the $4,200 area carries a high probability.
Key Levels:
□ Resistance: $4,315–4,355
□ Pullback target: $4,200
Primary Scenario:
Advance into the 4,315–4,355 zone, followed by a pullback toward 4,200.
Alternative Scenario:
Breakout and sustained hold above 4,355.
Analyst Commentary:
The technical picture is sufficiently clear, allowing for structured trading from key levels.
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