Eseandre Mordi
⬤ Gold has entered a corrective phase after its recent rally, with XAU/USD retreating toward a well-defined support zone. The chart shows prices approaching the $4,425–$4,400 area—a key demand region established during the current uptrend. This pullback appears to be a temporary correction rather than a reversal of the prevailing bullish market structure.
⬤ Despite the ongoing correction, the overall trend stays positive. Historical price action around the $4,400 level shows buyers have consistently stepped in at this zone, making it critical territory to watch. A brief dip below support followed by a quick recovery would likely signal a false breakout, confirming that downside pressure remains limited within the larger bullish framework.
⬤ Resistance levels on the upside are clearly marked. The first barrier sits near $4,442, with higher targets at $4,475 and $4,497. If bulls successfully defend the key support zone and push prices back higher, gold could resume its upward trajectory toward these resistance areas.
Eseandre Mordi
