Saad Ullah
⬤ XAU taking a breather after its recent run-up, now locked in a pretty clear intraday range. Price pulled back from the highs and found its footing around 4570 to 4580—basically a zone where buyers keep stepping in. The upward push has hit pause, but the bigger picture still looks bullish. Right now, the game plan's simple: buy the dips as long as price stays above support.
⬤ There's a rising trendline that's been guiding gold higher, backed by multiple demand zones sitting underneath. After shooting up, gold ran into a wall between 4590 and 4610—that's where sellers are hanging out and blocking further gains. Recent candles show hesitation and choppy action, which means we're in balance mode, not breakout mode. Support just below current levels is doing its job and keeping the downside in check.
⬤ Inside this structure, gold's trading like it's stuck in a box rather than picking a direction. Every time it drops toward 4570-4580, buyers show up. Every time it rallies toward 4590-4610, it gets shut down. The chart points to a potential target in the mid-4600s if momentum picks back up, but for now it's consolidation while traders wait for confirmation. Price is still sitting above the trendline, which means dips are getting absorbed without much drama.
⬤ This matters because gold reacts fast to macro data, especially inflation numbers. With CPI volatility on the horizon, having clear support and resistance levels gives traders solid reference points for what's next. As long as price stays within this range, trading stays orderly. If the structure breaks, expect more volatility. For now, XAU balanced, and the range is calling the shots on near-term direction.
Saad Ullah
