Gold is regaining its position at the start of the new week. OANDA by AstronautPioneer: XAUUSD — TradingView

The long-term uptrend line remains strong.

The price bounced off this line several times → confirming it as the main driver of the medium-term uptrend.

The price is currently moving above the trend line → this means the bullish structure has not been broken yet.

🔹Main Resistance Zone

Area: 5,098 – 5,100

The reason why this resistance is so strong:

• It matches the previous peak
• Located at Fibonacci extension line 1.0
• Price movement slows down as it approaches this area

➡ If the price fails to decisively break out of this area, a short-term pullback is likely.

🔹Main support areas

Around level 4800

reason:

• Front assembly area
• Corresponds to an uptrend line
• It represents the last low in the recent uptrend

➡ If a correction occurs, buying power may re-emerge in this area.

📌 Trading settings

Buy gold: 4,800 – 4,802
Stop Loss: 4,790
Take Profit: 100 – 300 – 500 pips

Gold sold: 5,098 – 5,100
Stop Loss: 5,110
Take Profit: 100 – 300 – 500 pips