Gold (XAUUSD) Sustains Uptrend amid Strong Technical

Market Analysis – October 9

Gold (XAUUSD) sustains its uptrend amid strong technical confirmation and momentum. The pair maintains a firm bullish trajectory as price action continues to trade above the 9-day Simple Moving Average (SMA) near $3,930, signaling persistent upward pressure. The Moving Average Convergence Divergence (MACD) indicator reinforces this strength, with the MACD line positioned above the signal line and the histogram expanding, reflecting consistent bullish dominance. Market sentiment remains positive, supported by renewed investor demand for gold as a preferred hedge amid ongoing global market uncertainties.

Gold Key Levels

Resistance Levels: $4,000, $4,200, $4,400
Support Levels: $3,900, $3,710, $3,500

Gold Long-Term Trend: Bullish

Technically, price recently retested the psychological $4,000 level before a minor retracement toward the $3,900–$3,930 demand zone, identified as a potential Mitigation Block (MB). This zone aligns with the short-term moving average, strengthening its role as dynamic support and suggesting the potential for renewed buying interest. The structure remains firmly bullish, as the pullback appears corrective rather than impulsive, preserving the integrity of the broader uptrend.

Looking forward, a rebound from the $3,900 support region could propel XAUUSD toward the $4,200 resistance area, with an extended upside target near $4,400 if momentum continues to build. Sustained closes above $4,000 would confirm a continuation of the bullish sequence, reinforcing the medium-term outlook for higher valuations. However, a clear break below $3,900 could temporarily challenge the prevailing sentiment, though such a move remains unlikely in the current market setup, as highlighted in expert forex signals.

Gold Short-Term Trend: Bullish

Gold (XAUUSD) maintains a bullish short-term structure, characterized by higher highs and higher lows along its ascending trendline. Price recently retraced from the $4,040 region but is finding support near $3,950, aligning with the dynamic trendline. The MACD continues to reflect bullish momentum despite brief corrections, indicating that buyers remain in control. A decisive rebound above the $4,000 mark could confirm renewed upward momentum toward the $4,200 resistance zone.

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