Saad Ullah
⬤ Gold continues moving inside a clear range after bouncing from lower levels earlier this month. The metal pushed up from range lows toward a major supply zone but got rejected there. Now it's sitting around the mid-range level, creating uncertainty about where it heads next.
⬤ The chart shows XAU trading around $4,070, with the range bottom near $3,900 and resistance closer to $4,300. If price can reclaim and hold this mid-range area convincingly, gold might gather enough momentum to push toward the upper boundary around $4,700. Right now, the action looks neutral—tight candles showing the market is waiting for direction.
⬤ After getting pushed back from supply, volatility has dropped off. Buyers are defending the lower half of the range while sellers keep capping moves near the middle. No breakout above resistance or breakdown below support has happened yet, making this current level crucial for what comes next.
⬤ This matters because gold sits at a structurally important zone that can shift sentiment around safe-haven assets. A solid reclaim of mid-range could spark renewed bullish momentum and support a bigger move toward upper resistance. If it fails here, the bias could flip back toward caution, potentially sending XAU lower within the range and delaying any shot at reaching the $4,700 area.
Saad Ullah
