XAUUSD / Gold Spot - 15M Chart Breakdown

Current Price: ∼4,121.85 after rejecting from the 4,138 supply zone
Market Structure:

Gold made a massive sweep to 4,182 then dumped hard to 4,028 lows earlier this week

Since then, we’ve seen a strong recovery with higher lows forming. That ascending trendline you drew is holding for now

But price just rejected from the 4,138 - 4,140 grey supply zone. Sellers stepped in there

Key Levels:

Resistance:

4,138 - 4,140: Immediate supply zone. Price just rejected from here. This was a strong support earlier, now acting as resistance

4,170 - 4,178: Major supply above. If bulls break 4,140, this is next target

4,182 - 4,190: Weekly high. Break above this opens up 4,200

Support:

4,114 - 4,108: Minor support trendline confluence. If this holds, bulls still in play

4,088 - 4,081: Strong demand zone. You’ve got it marked. This is the key buy zone if we dip

4,041 - 4,028: Major demand recent swing low. Below this and structure breaks bearish

My Take:

Gold is in a pullback after that aggressive move up from 4,028. The rejection at 4,138 shows sellers aren’t done yet. 

Two scenarios playing out:

1. Bullish Case: If price holds the trendline 4,114 support, we likely retest 4,138. A clean break 15M close above 4,140 targets 4,170 then 4,178. That 4,088 - 4,081 zone is a solid dip-buy area if we get there

2. Bearish Case: Break of the ascending trendline 15M close below 4,108 opens the door to 4,088. Lose that 4,081 level and we’re likely heading back to 4,041 - 4,028 to retest weekly lows

What I’m watching:

That trendline break. If 4,114 fails, momentum shifts to sellers short-term. If it holds, buyers still control the bounce from 4,028.

This is educational chart analysis, not financial advice. Gold is highly volatile and reacts to USD, yields, and news. Manage risk, use stops, and size positions properly._

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