XAUUSD — 4,240 Became the Launchpad
Gold finally gave the kind of move buyers were waiting for, and compared with yesterday, this was not just a small recovery — it was a strong expansion candle that changed the short-term tone of the chart.
Price had already been building pressure around the 4,060 - 4,120 area, but the real message came when gold broke through the previous resistance and reclaimed the 4,160 area. That level matters because it was not only a technical barrier, but also close to the area where momentum needed to prove itself. Once price pushed above it, the market stopped looking like a weak bounce and started acting like a real bullish continuation.
For newer traders, this is the simple read: when price breaks a key resistance, then pulls back into the old supply zone and holds, that zone can flip into support. Right now, the 4,230 - 4,245 area is the zone I am watching closely. If gold breathes back into this area and buyers defend it, the next push may continue toward the upper liquidity around 4,300 and possibly 4,330.
My main view is bullish while gold stays above 4,230. The softer USD tone, easing Hormuz-related fears, weaker Fed hike expectations, and stronger daily momentum all support the idea that buyers are trying to keep control.
This bullish idea becomes weak if gold loses 4,230 and fails to recover. A deeper break below 4,160 would tell me the breakout has lost strength, and price may need to rebalance lower before another continuation attempt.
Key price zones to watch
Current reaction area: 4,260 - 4,300
Main demand / flipped supply zone: 4,230 - 4,245
Bullish confirmation zone: clean hold above 4,245
First upside liquidity target: 4,300
Main upside target: 4,320 - 4,330
Lower support if buyers fail: 4,160 - 4,180
Major lower liquidity: 4,100 - 4,120
Invalidation: clean close below 4,230, stronger below 4,160
Do you see this strong breakout as the start of a bigger bullish leg, or would you wait for gold to retest 4,240 before trusting the next push?
Gold finally gave the kind of move buyers were waiting for, and compared with yesterday, this was not just a small recovery — it was a strong expansion candle that changed the short-term tone of the chart.
Price had already been building pressure around the 4,060 - 4,120 area, but the real message came when gold broke through the previous resistance and reclaimed the 4,160 area. That level matters because it was not only a technical barrier, but also close to the area where momentum needed to prove itself. Once price pushed above it, the market stopped looking like a weak bounce and started acting like a real bullish continuation.
For newer traders, this is the simple read: when price breaks a key resistance, then pulls back into the old supply zone and holds, that zone can flip into support. Right now, the 4,230 - 4,245 area is the zone I am watching closely. If gold breathes back into this area and buyers defend it, the next push may continue toward the upper liquidity around 4,300 and possibly 4,330.
My main view is bullish while gold stays above 4,230. The softer USD tone, easing Hormuz-related fears, weaker Fed hike expectations, and stronger daily momentum all support the idea that buyers are trying to keep control.
This bullish idea becomes weak if gold loses 4,230 and fails to recover. A deeper break below 4,160 would tell me the breakout has lost strength, and price may need to rebalance lower before another continuation attempt.
Key price zones to watch
Current reaction area: 4,260 - 4,300
Main demand / flipped supply zone: 4,230 - 4,245
Bullish confirmation zone: clean hold above 4,245
First upside liquidity target: 4,300
Main upside target: 4,320 - 4,330
Lower support if buyers fail: 4,160 - 4,180
Major lower liquidity: 4,100 - 4,120
Invalidation: clean close below 4,230, stronger below 4,160
Do you see this strong breakout as the start of a bigger bullish leg, or would you wait for gold to retest 4,240 before trusting the next push?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.