Gold Price Analysis: Sell Near Resistance, Buy at Trendline SuppGold (XAU/USD) on the 4-hour timeframe, here is a detailed analysis
Resistance and Sell Zone:
The chart highlights a resistance area around 3380–3400, which has been marked as a Sell Zone.
Price is currently testing this resistance zone. A bearish confirmation (such as a reversal candlestick pattern, rejection wicks, or a break in structure) is recommended before entering a short position.
The chart suggests a potential short trade if the price fails to break above the resistance convincingly.
Projected Bearish Scenario:
If bearish confirmation occurs, the price is expected to decline toward the ascending trendline support.
The first sell target is marked around 3280–3300.
The Buy Zone lies just above the trendline support, where buyers might step in again.
Buy Opportunities:
First buy opportunity is at the trendline support area (Buy Zone), assuming the bullish structure remains intact.
If the price reacts positively from this level, a potential bounce back toward the highs is expected.
A more aggressive long target is marked at 3499, but the chart notes that waiting for a successful retest of the 3200 level would be prudent before aiming for that higher target.
Market Structure:
Several Break of Structure (BOS) points are identified, indicating previous bullish impulses.
A shift in structure could signal the beginning of a retracement or reversal, depending on confirmation at key zones.
Key Levels:
Resistance / Sell Zone: 3380–3400
1st Sell Target / Support Zone: 3280–3300
Buy Zone: 3200–3250
2nd Buy Target (Aggressive): 3499
Summary:
This chart outlines a range-bound to mildly bearish short-term bias, with the possibility of a bullish continuation if the trendline and buy zone hold.
Traders are advised to wait for confirmation signals before executing trades, especially near the resistance and buy zone.
