Gold (XAUUSD): Rising Wedge at a Critical Decision Zone
Hi guys!
Gold is currently trading inside a well-defined rising wedge, showing higher highs and higher lows, but with the price gradually compressing. This structure often signals a buildup before a strong directional move, making the current zone technically important.
On the upside, the 4,3854,400 resistance area remains the key level to watch. A strong 4H breakout above this zone would confirm bullish continuation and could open the door toward the 4,458 target, which aligns with the projected measured move of the wedge.
Scenario Analysis:
Bullish Case: A strong 4H close above wedge resistance and the 4,385 level would confirm a breakout, opening the path toward 4,458 as the primary upside target. Momentum continuation would be favored above this level.
Bearish Case: Failure to hold the rising wedge support, especially with strong bearish candles, would invalidate the structure and likely trigger a deeper corrective move into the highlighted demand zone.
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