🌐Macro Background
Geopolitical De-escalation: Hopes of a US-Iran peace deal and reopening the Strait of Hormuz dropped crude oil to multi-week lows, significantly easing global inflation fears.

Yields & Dollar Pullback: Lower oil prices and reduced inflation expectations led traders to scale back aggressive Fed tightening bets, pressuring US Treasury yields and the US Dollar.

Key Catalyst Ahead: Markets are closely watching Friday’s US Non-Farm Payrolls (NFP) report for direction on the Fed's next interest rate move.

📊Technical Structure
Gold is navigating within a well-defined descending parallel channel. The recent vertical surge from the $3,960–$4,040 demand region has pushed prices straight into the upper boundary of this structure.
Resistance Zone ($4,297 – $4,325)
Support Zone ($4,167 – $4,203)

🎯Trade Setup
Scenario A: Counter-Trend / Rejection Short
Given the sharp, extended move into major resistance ahead of high-impact news (NFP), a temporary pause or corrective pullback is plausible.

Entry Area: $4,297 – $4,325
Take Profit 2 (TP2): $4,203
Take Profit 1 (TP1): $4,167
Stop Loss: Above $4,335

Scenario B: Continuation Long (Pullback Buy)
If price pulls back to retest broken structural levels, buyers may look to re-engage at value.

Entry Area: $4,167 – $4,203
Take Profit 1 (TP1): $4,297
Take Profit 2 (TP2): $4,325
Stop Loss: Below $4,150

❌Invalidation
Bearish Invalidation: A sustained 4-hour candle close above $4,325 breaks the descending channel structure.

Bullish Invalidation: A sustained 4-hour candle close below $4,167 invalidates the primary support zone.

📝Trade Summary
Gold is testing critical channel resistance following a sharp macro-driven rally, favoring a short-term rejection play toward $4,203 before the NFP report unless a confirmed 4-hour close above $4,325 signals a bullish channel breakout.

⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.