Eseandre Mordi
⬤ Gold (XAU) is approaching a critical technical level with price hovering around the $5,130 region on the 15-minute COMEX chart. XAU needs to stay above $5,004 next week to keep the bullish scenario alive. That $5,004 level is essentially the line in the sand — break it, and the whole upside setup starts to unravel.
⬤ The chart's bullish roadmap runs through a series of Fibonacci extension targets: 61.8% at $5,111.4, followed by 78.6% at $5,237.4, then 100% at $5,402.3, and 123.6% at $5,590.3. Price is currently holding above $5,004, which aligns with broader analysis of Gold testing the $5,043 resistance zone as a key inflection point for the next leg higher.
⬤ If $5,004 gives way, the chart marks several downside clusters to watch: 38.2% at $4,857.5, 50% at $4,771.6, 61.8% at $4,687.2, and 78.6% at $4,569.6. This mirrors the pattern seen when Gold holding above $4,880 support while bulls maintain control — showing how much weight single support thresholds carry in keeping the structure intact.
⬤ The bullish case for Gold lives or dies at $5,004. Hold it, and the Fibonacci extension path toward $5,590 stays in play. Lose it, and the retracement bands take over. This dynamic is central to XAU/USD eyeing the $5,000 mark as support zones guide the next move — where clearly labeled levels are doing all the work in defining momentum.
Eseandre Mordi
