Pause for the Gold Rally#Gold Technical Analysis Report - USD
**Chart Analysis: Gold Spot / U.S. Dollar - 3M**
**Current Price Level:** $2,618 USD
Key Observations:
Gold is currently testing a critical resistance level at 4380.399, which aligns with major Fibonacci extension levels identified on yearly and quarterly charts. The price action shows a consolidation phase after the recent rally, with the market displaying indecision around this significant technical barrier.
Technical Levels:
The Fibonacci retracement structure reveals multiple support zones below the current resistance. Should price face rejection at 4380.399, technical analysis suggests potential pullback zones at 3743, 3403, and 3166 based on the proportional PA (Price Action) alignment on higher timeframe charts.
Market Sentiment:
The long-term uptrend remains intact, with the price structure maintaining higher lows and higher highs from the 1999-2026 timeframe. Current momentum appears to be consolidating before the next directional move, typical of markets approaching significant resistance levels.
Trading Considerations:
Traders should monitor how price responds at the 4380.399 resistance. A break above this level could signal continuation toward 5410 (2.618 Fibonacci extension). Conversely, a rejection could lead to a retest of the identified support zones. Risk management is essential given the proximity to resistance and current consolidation phase.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own due diligence and consult a financial advisor before making trading decisions.
