Gold surged higher after last Friday’s NFP release, but the 4H chart structure shows that price is still trading below a major resistance zone. The current upside move looks more like a technical correction rather than a confirmed bullish reversal.

Despite weaker employment data supporting short-term safe-haven demand, the elevated unemployment rate and ongoing Fed policy expectations continue to limit further upside momentum.

Key Levels to Watch:

🔸 Resistance Zone: 4380 - 4400
A failure to break above this area could trigger renewed selling pressure.

🔸 Support Levels:
• 4317 — Short-term support
• 4268 - 4273 — Key demand zone

Trading Plan:
Look for short opportunities only after clear rejection from resistance. Stay patient, manage risk properly, and avoid chasing price movements.

Bias: Bearish Below 4400

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