Gold has rebounded from the $4,340 region, trading as high as $4,370 in recent intraday action, according to the latest TradingView data. The price initially showed renewed momentum with a stretch toward the key resistance levels, but technical signals remain mixed as traders navigate both bullish and bearish chart patterns.
XAUUSD Tests Resistance After Rebound
After moving above the $4,370 mark on the TradingView 1-minute chart, gold began to pull back, approaching the $4,340 area where buyers stepped in to provide support. Price action later rebounded from $4,345 to $4,355 before regaining strength near $4,366, indicating ongoing volatility within a tight range.
Bollinger Band indicators on the intraday chart reveal that gold is consolidating near the upper band, typically signaling potential continuation of the existing trend. Support is evident near the lower bands at local bottoms and resistance forms at short-term peaks. Currently, XAUUSD is approaching intraday highs between $4,368 and $4,370, marking the most significant resistance in the near term.
Price consolidation in gold is now focused near the upper limit of the Bollinger Band, with immediate resistance set between $4,368 and $4,370 and support around $4,340 to $4,355.
The closest support zone below the current price remains the recent breakout area around $4,350–$4,355, followed by a deeper level at $4,340 to $4,345. While TradingView charts include a Chaikin Money Flow panel, the absence of volume data limits its reliability in the current setup.
Bearish Scenario Targets Deeper Pullback
An alternative bearish scenario has been put forward by an analyst, who plans to enter positions between $4,358 and $4,365, setting a stop-loss at $4,390 and targeting a move down to $4,250. According to the chart, gold’s price is now hovering around $4,354.58, resting near a rising support trendline and a horizontal support at $4,347.78.
A key Fibonacci retracement level at 0.786 aligns closely with the upper resistance area, strengthening the argument for significant selling pressure should prices push higher. The bearish view remains valid as long as gold trades below $4,390.
The analyst’s setup indicates a potential selloff in gold if prices reverse from $4,358 to $4,365, with $4,390 as the critical invalidation point and $4,250 as the downside target.
A price break below $4,347 could further undermine the current bullish structure and signal a deeper correction in the intraday timeframe.
| Key Level | Current Price ($) | Resistance Zone ($) | Support Zone ($) | Bearish Target ($) | Bearish Invalidation ($) |
|---|---|---|---|---|---|
| XAUUSD | 4,354.58 | 4,368–4,370 | 4,340–4,355 | 4,250 | 4,390 |
Liquidity Clusters Shape Price Outlook
Another analyst has examined gold’s order book liquidity, noting that several concentrated bands exist above the current trading range. The largest clusters of pending orders appear well above spot price, while strong liquidity at the lower edge of recent formations signals the potential for volatile moves in both directions.
Current price action has gravitated back toward these upper liquidity clusters after rebounding from the lower range. The technical outlook reflects the dynamic between temporary resistance at $4,368–$4,370 and nearby support at $4,350 and $4,340–$4,345.
The bearish technical structure, characterized by the X pattern, continues to set $4,390 as the critical resistance threshold, with the downside target positioned at $4,250.
Mini dictionary: Bollinger Bands, a technical analysis tool, consists of a moving average and two bands set at standard deviations above and below it. These bands expand and contract with price volatility, helping traders spot periods of consolidation, trend continuation, or reversals in price charts.
