⬤ Gold's hovering near a make-or-break zone after bouncing back from a sharp drop in late January. Price has settled around the $4,960 mark and is now testing overhead resistance—setting up what could be the next big move.
⬤ Support levels that were mapped out earlier held firm during the pullback and sparked a rebound. The structure's now showing higher lows along a rising trendline, though price is still capped below the $5,100 resistance band.
⬤ The chart points to $5,097 as the key breakout threshold. A clean weekly close above this level would shift momentum toward higher targets around $5,365, with the previous high near $5,698 coming into view. There are also intermediate support zones where price might dip before pushing higher.
⬤ The next few weekly sessions matter because they'll decide if gold keeps climbing or gets stuck in consolidation. Staying above support keeps the bulls in control, but a rejection at resistance would trap price in a tighter range and delay any run toward new highs.
