Market Analysis – January 8
Gold (XAUUSD) resumes bullish structure as momentum stabilizes above support. XAUUSD continues to display a constructive bullish posture, with price holding above the short-term moving average near $4,450. Momentum indicators remain broadly supportive, as the MACD stays in positive territory despite mild signal-line compression, pointing to consolidation rather than trend exhaustion. The broader market structure remains aligned with the higher-timeframe trend, reinforcing the view that the upside bias remains intact.
Gold Key Levels
Resistance Levels: $4400, $4600, $4800
Support Levels: $4200, $3900, $3500
Gold Long-Term Trend: Bullish
Gold has successfully defended the $4,400–$4,410 support zone, which aligns with prior breakout structure and trendline confluence. The pullback from the $4,520 swing high has unfolded in an orderly manner, marked by shallow retracements and higher lows, indicating controlled profit-taking rather than aggressive distribution. Continued acceptance above $4,450 highlights demand resilience and helps limit near-term downside risk.
Looking ahead, a sustained move above $4,480 would likely bring the $4,600 resistance area into focus as the next upside objective. A decisive breakout beyond $4,600 could accelerate bullish expansion toward the $4,640–$4,650 zone, consistent with broader trend projections and prevailing forex signals. Overall, as long as price remains supported above $4,400, the technical outlook continues to favor renewed upside progression.
Gold Short-Term Trend: Bullish
Gold (XAUUSD) remains structurally bullish on the four-hour chart, with price trading above the rising trendline and key support near $4,400. However, short-term momentum is cooling, as price stalls below $4,480 and indicators point to a brief corrective phase. A measured pullback toward the $4,360–$4,380 zone is likely to attract fresh demand rather than undermine the prevailing trend. As long as $4,300 holds, the broader bullish trajectory toward $4,600 remains intact.
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