Market Analysis (XAU/USD)
Price is reacting from a supply zone with initial rejection, shown by wicks and slowing bullish momentum. Structure is still struggling to break above the highlighted resistance, meaning sellers are active but the candles are not aggressively dumping either, so we’re in a decision phase rather than a confirmed reversal.
Silver on the right is still trending upward, showing continuation strength if Silver sustains, Gold may follow instead of breaking down immediately.
My View Going Ahead
Even with the short-term hesitation visible here, I still expect Gold to push higher potentially into the 5000 region and take out the 4200 level, especially as we move into December and year-end liquidity comes in.
Historically, December brings:
- Increased institutional positioning
- Portfolio rebalancing flows
- Higher volatility as major sessions overlap
More liquidity = more expansion in price.
So unless structure breaks down aggressively, I’m still leaning bullish for continuation to higher levels.
