Gold Holding Strong Above Daily Open – Continuation Toward 5500?Gold Holding Strong Above Daily Open – Continuation Toward 5500?
XAUUSD is currently attempting to form a bullish rejection candle on the daily timeframe after sweeping the session low and recovering strongly above the daily open.
On the 2H structure:
• Higher highs and higher lows intact
• Trendline support respected
• Strong impulse breakout from compression
Price is consolidating near the 5395–5420 resistance zone. A clean daily close above this level could open the path toward 5450 and potentially 5500.
However, failure to break and hold above resistance may trigger a short-term pullback into 5350–5320 demand before continuation.
Bias: Bullish unless 5300 breaks decisively.
Key Levels:
🔴 Resistance: 5420 / 5450 / 5500
🟢 Support: 5350 / 5320 / 5300
Waiting for confirmation before aggressive entries.
Trade safe. Volatility remains elevated.
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Long
