Edward Culchenko
⬤ Gold is holding a strong bullish structure on the 15-minute chart after breaking key resistance earlier in the session. Price pushed aggressively into premium territory before beginning a controlled pullback. The current retracement is heading toward a well-defined demand area, suggesting this could be a healthy pause rather than a trend reversal.
⬤ XAU/USD has been printing higher highs following a clear bullish shift, backed by solid upside momentum. After touching the area just below $5,000, price formed equal highs and a weak high—classic signs of liquidity sitting above recent peaks. The subsequent pullback fits typical behavior after liquidity builds up in premium zones.
⬤ The demand zone between $4,968 and $4,958 is backed by previous structure and consolidation activity. This is where price previously accelerated higher, making it a critical area for gauging whether bulls still have control. If liquidity gets swept and price finds support here, a renewed push higher could target levels above the recent highs near $5,040. No bearish structure break is visible at this stage.
⬤ This setup matters because gold tends to react sharply to short-term liquidity grabs and intraday positioning shifts. A bounce from the $4,968-$4,958 zone would confirm the bullish structure and keep upside targets in play, while a breakdown would point to deeper consolidation. How price handles this demand area will likely dictate near-term momentum and volatility in gold.
Edward Culchenko
