GOLD Is Trying to Recover, But Bulls Still Have Something to Prove

[Tucker Walton]

Gold is showing signs of recovery after a sharp rejection, but the 15-minute chart suggests the bigger battle isn't over yet.

Current price: 4,069.63

Here's what I'm watching:

🔹 Resistance zone: 4,075–4,080 is the first hurdle. A clean breakout and hold above this area could open the way toward 4,103 and 4,112.

🔹 Bullish continuation: If buyers reclaim 4,080 with strong momentum, the next upside areas are 4,132–4,142.

🔹 Support zone: 4,055–4,060 is the immediate area to watch. Below that, 4,035 becomes important, followed by 4,023.

My market view:

Gold has bounced strongly from the 4,035 area and is now consolidating around 4,070. However, the broader descending structure hasn't been convincingly broken. The stronger-than-expected US NFP data also added pressure on gold by supporting the dollar and Treasury yields . I'm watching for a confirmed breakout above 4,080 rather than chasing the current consolidation. If resistance holds, another move toward support remains possible.

Gold is at a decision point. Let price confirm the next direction before taking a position. What's your bias here: bullish recovery or another bearish move?

Educational analysis only. Always manage your risk.