### **Gold Spot (XAU/USD) 4H Chart Forecast**
#### **Key Levels:**
- **Resistance:** Around **3,120 - 3,160** USD (Upper boundary of the trend channel)
- **Support Zones:**
- **3,011 - 2,961** USD (First support)
- **2,930 - 2,911** USD (Stronger support)
- **2,880 USD** (Major downside target)
#### **Technical Outlook:**
- The price is currently trading near **3,037** USD, respecting an **ascending channel**.
- **Potential Bullish Scenario:** If gold remains above **3,011 USD** support and breaks past **3,080 USD**, it could test the **3,120 - 3,160 USD** resistance.
- **Potential Bearish Scenario:** If gold breaks below **3,011 USD**, a **drop to 2,961 USD** is likely, followed by **2,930 - 2,911 USD** if selling pressure continues.
#### **Trading Strategy:**
- **Buy on dips** near **3,011 - 2,961** with a target of **3,120 USD**.
- **Sell below 3,011 USD**, targeting **2,930 - 2,911 USD**.
- Watch for a potential breakout above **3,120 USD** for further upside.
#### **Key Levels:**
- **Resistance:** Around **3,120 - 3,160** USD (Upper boundary of the trend channel)
- **Support Zones:**
- **3,011 - 2,961** USD (First support)
- **2,930 - 2,911** USD (Stronger support)
- **2,880 USD** (Major downside target)
#### **Technical Outlook:**
- The price is currently trading near **3,037** USD, respecting an **ascending channel**.
- **Potential Bullish Scenario:** If gold remains above **3,011 USD** support and breaks past **3,080 USD**, it could test the **3,120 - 3,160 USD** resistance.
- **Potential Bearish Scenario:** If gold breaks below **3,011 USD**, a **drop to 2,961 USD** is likely, followed by **2,930 - 2,911 USD** if selling pressure continues.
#### **Trading Strategy:**
- **Buy on dips** near **3,011 - 2,961** with a target of **3,120 USD**.
- **Sell below 3,011 USD**, targeting **2,930 - 2,911 USD**.
- Watch for a potential breakout above **3,120 USD** for further upside.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.