Gold Technical Analysis: V-Shaped Reversal Tests $4,404 Resistance
Hello everyone! Today i want to share some macro analysis with you!
$Gold - main 2612(GCmain)$$XAU/USD(XAUUSD.FOREX)$
Technical Analysis: Gold prices previously experienced a pronounced corrective decline (hitting a low near 4,334.31), after which they found strong support at the lows and staged a sharp “V-shaped reversal.” Currently, the price has broken through the middle band and is testing resistance near the upper Bollinger Band at $4,404.
The H1 chart has shifted to bullish dominance, with strong rebound momentum.
Monday Forecast: Given the strong bullish momentum at Friday’s close, and assuming there is no significant easing of tensions in the Middle East over the weekend, the market is highly likely to open strongly on Monday. It may open slightly higher or surge upward immediately after the open, testing the 4,385–4,400 level.
First resistance level (short-term): $4,385–$4,400
Second resistance level (swing): $4,420–$4,450
Continue to focus on Buy orders in your trading strategy!
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