Gold extends its recovery after reports that the U.S., Iran, and Oman are close to reaching a temporary agreement to reopen the Strait of Hormuz, easing geopolitical tensions and weighing on oil prices.

However, this week's focus remains on ADP Employment, ISM Services PMI, and Friday's Non-Farm Payrolls (NFP). These events are likely to determine whether the current rebound develops into a sustained recovery or proves to be only a short-term rally.

📌 Trading Plan

Resistance: 4140–4150 | 4180 | 4200–4210 | 4220

Support: 4100 | 4060 | 4045 | 4020 | 4000 | 3980–3982

📌 Personal View

Gold has broken above the H4 neckline around 4100, suggesting a potential Inverse Head & Shoulders formation.

The next key area is 4140–4150, where price is also testing the H4 descending trendline. A successful breakout could open the way toward 4180 and 4200–4220.

Failure to break this resistance would increase the probability that the current rally is simply a bull trap, with price rotating back toward the support zones.

For now, I prefer buying pullbacks into support and selling reactions at resistance until the market confirms a clear breakout.

📌 What do you think?

Have buyers finally regained control, or is this just another bull trap before the next major move?