Gold (XAUUSD) | Trendline Retest and Bullish Recovery Scenario
On the 15-minute timeframe, Gold is trading near an important ascending trendline after completing a corrective move from the recent highs. Price is also attempting to build a higher low, suggesting buyers are still defending the broader structure.
The highlighted resistance around 4080-4085 remains the first area to watch. A sustained move above this zone could open the way for the next resistance levels.
Key Levels
Support: 4038-4042
Major Support: 3995-4000
Resistance 1: 4080-4085
Resistance 2: 4120
Resistance 3: 4180
Possible Scenario
If buyers continue protecting the trendline and price reclaims the resistance zone, the structure may favor a continuation toward higher levels. A rejection from resistance could instead lead to another test of support before the next directional move.
This analysis is based on current price structure, trendlines, and support/resistance zones and will remain valid while the market respects these levels.