Gold (XAU/USD) – Technical Analysis (H4)

Gold is completing the formation of a W-shaped reversal. In this context, bulls are likely to find it extremely difficult to overcome resistance in the $4,315–4,355 zone. Profit-taking at these levels would appear entirely appropriate, as would interaction with a cluster of pending short orders. Consequently, a pullback from this zone toward the $4,200 area carries a high probability.

Key Levels:

□ Resistance: $4,315–4,355

□ Pullback target: $4,200

Primary Scenario:

Advance into the 4,315–4,355 zone, followed by a pullback toward 4,200.

Alternative Scenario:

Breakout and sustained hold above 4,355.

Analyst Commentary:

The technical picture is sufficiently clear, allowing for structured trading from key levels.