Gold continues to recover strongly from the 3940-4000 demand zone and has reclaimed the 4259 level keeping the daily structure bullish. Price is now approaching the 4380-4400 resistance area which also sits close to the descending trendline.

A daily breakout above this region could accelerate the move toward 4456-4479 and potentially 4677-4687 while rejection could send price back toward 4259 and 4195–4165.

The upcoming CPI data this week could have a big impact on gold and may trigger a strong move in either direction. Higher than expected inflation could put pressure on gold by pushing yields and the dollar higher while lower than expected inflation could support further upside in gold.

Trade Plan-Sell Setup
Sell Zone: 4380-4405
Sell Trigger: H1-H4 bearish rejection or bearish engulfing from the resistance zone
Targets: 4341, 4303, 4259, 4211, 4165
Invalidation: H4 close above 4405. A sustained breakout above this level would strengthen the bullish trend and could open the door toward 4456-4479.

Trade Plan-Buy Setup
Buy Zone: 4211-4165
Buy Trigger: H1-H4 bullish rejection or bullish engulfing from the support zone
Targets: 4259, 4341, 4380, 4456, 4479
Invalidation: H4 close below 4128. A sustained break below this level would weaken the current bullish structure and could expose 4050-4020.


Note
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