Gold (XAUUSD) Extends Bullish Recovery Toward Key Resistance Levels

Market Analysis – November 13

Gold (XAUUSD) extends bullish recovery toward key resistance levels. XAUUSD continues to show strong bullish momentum following a decisive rebound from the $3,900 support zone. The pair is currently trading above the short-term 9-day Simple Moving Average at approximately $4,060, confirming continued upward strength after a brief corrective phase. The Relative Strength Index (RSI) has climbed above the neutral 50 mark, now near 64, indicating sustained buying interest and improving market sentiment. This alignment between price and indicators reinforces the prevailing bullish structure and suggests potential for further upward extension in the near term.

Gold Key Levels

Resistance Levels: $4200, $4400, $4600
Support Levels: $3900, $3710, $3500

Gold Long-Term Trend: Bullish

Technically, gold has maintained a solid recovery structure after firmly defending the $3,900 demand area, highlighted by a clear bullish rejection candle. The upward trajectory strengthened once price moved above the minor resistance at $4,100, establishing a short-term higher low formation that supports renewed buying pressure. The 9-day SMA continues to slope upward, signaling consistent momentum in favor of buyers, while the recent consolidation phase acted as a healthy corrective pause within the broader uptrend. A sustained hold above $4,100 now provides a foundation for the next wave of appreciation.

Looking ahead, XAUUSD appears poised to challenge the next resistance zone around $4,400, with an extended target toward $4,600 if bullish momentum persists. A successful daily close above $4,210 would likely confirm this continuation pattern, opening the path toward higher liquidity zones. Should short-term profit-taking occur, interim support lies near $4,060, where buyers are expected to re-enter. Overall, the technical picture remains bullish, supported by strengthening momentum and renewed investor confidence. Traders monitoring market behavior may incorporate forex signals to better identify potential continuation points as momentum builds.

Gold Short-Term Trend: Bullish

Gold (XAUUSD) maintains a bullish structure on the four-hour chart, trading above the 9-period moving average near $4,160. Price recently broke through the $4,110 resistance level and is now consolidating around $4,200, reflecting steady buyer control. The RSI near 74 indicates that the market is approaching overbought territory, suggesting the potential for a brief pullback before continuation. If bullish momentum holds above $4,100, price may extend toward the next resistance around $4,400 after a short corrective dip.

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