Dmitri Lysenko
⬤ Gold (XAU/USD) pushed higher and touched a high near $4,990, bringing the market right to the doorstep of the $5,000 psychological level. The 30-minute chart shows a textbook sequence of higher highs and higher lows, with momentum picking up after price bounced from the $4,755 zone earlier in the day.
⬤ The rally stayed tight to a rising trendline, breaking cleanly through $4,810 and $4,900 before stretching toward resistance between $4,980 and $4,990. Even as price stalled in this zone, selling pressure stayed light, and candles kept forming above prior support—showing that bulls haven't lost their grip.
⬤ Focus is shifting to possible correction zones if price dips from here. Key support sits around $4,970 and $4,950, with a deeper pullback target near $4,880 marked as the limit correction zone. These levels line up with earlier consolidation areas and trendline support, making them logical spots for buyers to step back in if a retracement unfolds.
⬤ Gold's strength near record highs keeps it front and center in the precious metals space. A healthy pullback followed by fresh upside could open the door to $5,020–$5,050. On the flip side, if price can't hold above the mid-$4,900s, expect a period of sideways action before the next directional move takes shape.
Dmitri Lysenko
