Gold (XAUUSD) is currently trading on the H1 timeframe after rejecting the 2 COB supply zone near 4070–4080. The recent decline appears to be a healthy correction following the strong bullish impulse, with price now approaching the RBS (Resistance Becomes Support) Structure Shifting Zone around 4032–4016.

This demand area is the key level to watch. As long as price holds above the RBS zone, the overall market structure remains bullish, and buyers may look for confirmation to push price back toward 4080, followed by the major SBR supply zone at 4129–4131. A successful breakout above that area could expose the higher resistance around 4165–4179.

The RSI has cooled to around the 41 level, indicating that bullish momentum has weakened in the short term. However, the previous RSI Bullish Divergence remains valid, suggesting that the current move could be a retracement rather than a complete trend reversal.

Key Levels

🟢 Support: 4032.34 – 4016.37 (RBS Structure Shifting Zone)
🟣 Supply Zone: 4070 – 4080 (2 COB)
🔴 Major Resistance: 4129.89 – 4131.09
🎯 Higher Target: 4165.58 – 4179.13

Market Bias
✅ Bullish while price remains above 4016–4032.
📈 A bullish reaction from the RBS zone could target 4080, then 4130.
📉 A confirmed break below 4016 may trigger a deeper correction before buyers return.

Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always wait for confirmation and apply proper risk management.