GOLD HOLDS 409X, BULLISH - CAN BULLS REACH 4200?

Following the rejection from the 4135–4145 resistance zone, gold remains in a constructive short-term uptrend as price continues to defend the 4090–4100 breakout support area. The inability of sellers to break below this key support suggests that the recent decline is still a healthy pullback rather than a confirmed bearish reversal, while buyers remain in control of the broader short-term structure.

The upcoming week will be driven by several high-impact U.S. economic releases, including CPI, PPI, and Retail Sales, all of which are expected to generate significant volatility for both the U.S. Dollar and gold. From a technical perspective, the preferred scenario remains bullish as long as price continues to hold above support. A decisive breakout above 4135–4145 would likely confirm renewed buying momentum and pave the way toward higher resistance levels.

📍 Key Levels:

🔹 4090 – 4100
Primary support zone and preferred buying area.

🔹 4135 – 4145
Immediate resistance. A breakout would confirm bullish continuation.

🔹 4170 – 4185
First upside target.

🔹 4200 – 4220
Major higher-timeframe resistance zone.

✅ Preferred Scenario:

✔️ Gold continues holding above the 4090–4100 support zone.

✔️ A sustained breakout above 4135–4145 could extend the rally toward 4170–4185, with 4200–4220 as the next major upside objective.

✔️ If price loses the 4090 support, a deeper correction toward 4050–4060 may develop before buyers attempt to regain control.