Gold (XAU/USD), Technical Analysis – H4

The medium-term downtrend line has been decisively broken, allowing bulls to establish a solid base for a potential upward move over the coming weeks. An intermediate corrective pullback from the resistance zone of $4,190–$4,200 is likely, with the round psychological level of $4,100 acting as the key demand zone.

Key Levels:

□ $4,100 — Primary support / demand zone

□ $4,190–$4,200 — Immediate resistance

Primary Scenario:

Rise toward $4,190–$4,200, followed by a corrective pullback to $4,100.

Alternative Scenario:

A deeper correction directly from current levels cannot be ruled out. In this case, the next bullish impulse would likely form from the $4,100 support zone.

Analyst Commentary:

The breakout above the downtrend line favors bulls in the medium term, but near-term consolidation or a corrective dip remains a healthy part of the developing up-move. The $4,100 level is expected to provide strong buying interest if tested.