In today’s chart breakdown, Gold (XAU/USD) is holding steady around $3,973, supported by its rising trendline after weeks of cooling off from the October highs near $4,380.
Despite recent pullbacks, buyers continue to defend the $3,890–$3,845 area, a zone aligned with the 50-day moving average.
On the daily chart, price remains in a healthy uptrend, forming higher lows since August. Momentum, however, is showing signs of fatigue as the metal struggles to reclaim $4,017, the immediate resistance level traders are watching.
A break above it could confirm a rebound toward $4,200, while failure to hold above the trendline could invite a deeper correction toward $3,845 or even $3,595.
Zooming out to the weekly timeframe, Gold remains in a strong bullish channel, with the broader structure still intact despite the pullback. The long-term moving averages are trending upward, reinforcing the metal’s longer-term bullish outlook.
Key Levels:
Resistance: $4,000, 4,100, $4,200, $4,380
Support: $3,900, $3,850, $3,600
My Takeaway:
Gold’s uptrend remains technically intact, but it’s now at a crucial pivot. Holding above $3,890 keeps the bulls in charge, a breakout above $4,017 could be the spark for the next leg higher.