Saad Ullah
⬤ Gold is holding tight just below $4,150—a critical resistance level that could unlock the next leg higher. The precious metal is forming a textbook cup pattern, which typically signals a continuation of the uptrend. If gold can push through and hold above $4,150, it could spark a solid rally toward $4,200–$4,250.
⬤ The 2-hour chart shows a rounded base, suggesting selling pressure has faded while buyers are quietly stepping back in. The $4,150 mark is the line in the sand—bulls need a convincing close above it to confirm the breakout. Right now, gold is coiling up, but the move hasn't happened yet.
⬤ While the setup looks promising, false breakouts around major resistance zones are common and can trap overeager buyers. If gold fails to hold above $4,150, a pullback toward $4,080–$4,050 is still on the table. Broader factors like inflation data, central bank moves, and Treasury yields will also play a role in determining where gold heads next.
⬤ At the moment, spot gold is trading near $4,137—constructive, but still waiting for confirmation. A clean break and close above $4,150 could be the signal that kicks off the next bullish phase for the metal. For now, it's all about patience and watching how price reacts at this key level.
Saad Ullah
