Marina Lyubimova
⬤ Gold (XAU/USD) is currently trading just below a key resistance zone around 4910 to 4920 during the US session. Traders are watching this area closely as price continues to squeeze beneath a descending trendline while bouncing off rising support underneath.
⬤ The chart reveals gold trapped in a narrowing consolidation pattern. Price is holding above an upward-sloping support line but can't quite punch through the overhead barrier near 4910–4920. This setup creates a tight range where the upper boundary becomes the make-or-break level for the next move.
⬤ If sellers defend the resistance zone, gold could slide back down toward 4800. But if buyers manage to crack through this ceiling, the next target sits around 5000—the level marked above the descending trendline.
⬤ Right now, gold is stuck between two possible paths: a retreat to 4800 on the downside or a breakout rally to 5000 on the upside. The answer depends entirely on what happens at this 4910–4920 resistance band.
Marina Lyubimova
