✅ Gold has recorded eight consecutive bullish weekly closes, indicating that bullish momentum continues to dominate the market. From the weekly structure perspective, the trend remains strong, and the short-term outlook stays bullish.
✅ On Friday, gold rebounded after a second dip failed to make a new low, reaching as high as 4022 in the evening and closing with a long lower shadow bullish candle, showing strong buying support below.
If the rebound continues early next week, the price could extend higher; however, if a second rally fails to break a new high, gold may face short-term pressure and enter a sideways consolidation phase before launching another upward move.
✅ If the price fails to break above 4059, gold will likely remain in a high-level consolidation range — no need to be overly bearish.
But if it reclaims 4059 decisively, the market could resume its upward trend, with an additional upside potential of 50-100 dollars.
✅ In its latest report, Goldman Sachs raised its gold target from $4,300 to $4,900, reflecting the institution’s strong medium-to-long-term bullish outlook.
As long as there are no clear signs of a trend reversal, the overall strategy should remain “buy on dips.”
🔴 Resistance Levels: 4025-4030 / 4040-4059
🟢 Support Levels: 3970-3975 / 3944-3884
✅ Trading Strategy Reference:
Based on both technical and fundamental analysis, the key focus next week will be the 3970 support area.
🔰 If gold pulls back and stabilizes around 3970, it will likely mark the end of the short-term correction, and the price may resume an upward consolidation pattern.
🔰 If gold breaks below 3970, attention should shift to the 3944-3884 defensive support zone.
As long as the price holds above 3970, the short-term structure remains bullish, with potential for another test of the recent highs.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions.
