Gold is finally showing some life today, and the charts are telling a much clearer story: the bulls are back in control of the short-term flow.
On the 15-minute chart, you've got a clean, accelerating uptrend, higher highs, higher lows, and the trendline holding like a rail underneath price. Buyers stepped in aggressively from the $4,055 region and never let go.
Price is now testing the $4,160 ceiling, a level that previously rejected gold multiple times.
The 1-hour chart aligns with this narrative. The break above $4,130 and $4,145 flipped short-term structure bullish for the first time in days. What stands out is how decisively price reclaimed the 50-SMA and is now challenging the 200-SMA zone. When gold trades above both SMAs with the slope turning upward, it typically signals sustained bullish pressure.
But the real test is happening right now at $4,160, the top of the intraday resistance cluster. A clean breakout above this level opens the door toward $4,210, which is the next magnet for momentum players.
If buyers fail to clear $4,160, no problem, pullbacks toward $4,130 or the trendline around $4,114 are natural, as long as the higher-timeframe support at $4,055 holds. Below that, though, the bullish momentum unwinds quickly.
Key Levels I’m Watching:
Resistance: $4,145, $4,160, $4,210
Support: $4,130, $4,114, $4,055
My Takeaway
Gold is trending up cleanly and heading straight into major resistance at $4,160. If bulls break through, the next leg points toward $4,210. But if we get rejected here, expect a healthy pullback, the trendline and the $4,130–$4,114 zone will decide whether this run continues or fades.