XAU/ Gold Analysis
Gold's 4-hour level has effectively broken through the previous downward trend line, alleviating the short-term bearish pattern. Next, the market really needs to pay attention to the key resistance area of 4060—4070.
If the price can break through with volume and effectively establish itself above 4060—4070, it can basically confirm that the more than 20-day downward trend has ended, and gold is expected to complete a phase of bottoming and start a new rising cycle.
At that time, it is expected to welcome a rise of about 100—150 points, and the subsequent targets to focus on are:
📍 First target: 4100
📍 Second target: 4180
📍 Third target: 4260
Conversely, if the 4060—4070 line cannot effectively stabilize, then one must be cautious of the risk of a pullback after a rise. Gold may still maintain a consolidation pattern, waiting for a new directional choice.
Old Gold's Viewpoint: A trend change signal has emerged, but what really determines the market direction is not the breakthrough, but the stabilization after the breakthrough. Patiently wait for the market confirmation, then follow the trend.
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