XAUUSD at Major Trendline Resistance – Breakout or Rejection?
Gold OANDA:XAUUSD
Gold is testing a major descending trendline resistance on the 4H timeframe. Price is showing strong bullish momentum, but the breakout is not confirmed until a full 4H candle closes above the trendline. A confirmed breakout could open the door for further upside toward 4160, 4180, and 4200. If price fails to break this resistance, a rejection may lead to a pullback toward 4080, 4040, and 4000. Waiting for confirmation before entering a trade offers a better risk-to-reward opportunity.