XAUUSD at Major Trendline Resistance – Breakout or Rejection?
Gold OANDA:XAUUSD
Gold is testing a long-term descending trendline on the 4H timeframe. Bulls have regained momentum and are attempting a breakout, but confirmation is still required. A strong 4H close above the trendline would signal a potential bullish continuation toward 4160, 4180, and 4200. However, failure to break above this resistance could trigger a rejection, sending price back toward 4080, 4040, and possibly 4000. Waiting for a confirmed breakout or a clean rejection provides the best risk-to-reward setup.