Lingrid | GOLD Contraction Phase Before Trend ContinuationOANDA:XAUUSD is sliding back into the mid-range support after printing a new higher high, where price briefly tapped the upper resistance band. The current decline resembles a multi-leg corrective pullback rather than trend exhaustion, especially with the structure still respecting the rising trendline. Buyers have repeatedly reacted from this dynamic support, keeping the broader bullish sequence intact.
If the market stabilizes around 4,150, the next upward extension could aim once more toward 4,270, where liquidity remains untested above prior highs. A deeper dip into the trendline would still maintain bullish bias as long as the channel holds.
➡️ Primary scenario: accumulation above 4,150 → continuation toward 4,270.
⚠️ Risk scenario: a decisive break beneath 4,120 exposes 4,050 and delays bullish continuation.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
