Gold (XAU/USD), Technical Analysis – H1

Gold dipped below the key psychological level of $4,000 per troy ounce but buyers are currently treating this zone as fair value and are actively defending it. If the price avoids a retest and decisive breakdown, bulls have solid chances of driving the price higher toward the $4,060–4,080 area.

Key Levels:

□ $4,000 (psychological support)

□ $4,020 (intermediate support)

□ $4,060–4,080 (resistance zone)

Primary Scenario:

Pullback to $4,020 followed by an advance to $4,060 and $4,080.

Alternative Scenario:

Correction to $4,000, followed by a rebound higher toward $4,060.

Analyst Commentary:

Gold remains under pressure, therefore the appearance of confirming technical triggers would be highly advisable before committing to a larger bullish position.