XAU/USD | Bullish Structure Remains Intact (READ THE CAPTION)
By analyzing the #gold chart on the 4-hour timeframe, we can see that price first made a clean pullback to $4274, then strong demand stepped in and pushed gold sharply higher to $4440. After reaching this key psychological resistance, price corrected and is now trading around $4414.
If gold can close and hold above $4404, we can expect further upside. That said, a short-term pullback toward the $4334$4346 zone is still possible. With ongoing geopolitical risks, gold could even push toward levels above $4550 in the short term. Lets see how the market reacts next.
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Best Regards , Arman Shaban