is trading around $3,996 on the 4-hour chart after completing a bearish AB=CD harmonic pattern near the key support zone between $3,995 and $3,990. The chart suggests that the price has reached a technically significant inflection point, coinciding with the lower boundary of its recent trading range. In my view, this area will be crucial in determining the market’s next directional move.
As long as gold continues to hold above this support, the probability of a bullish rebound remains intact, particularly with markets awaiting the upcoming U.S. inflation data, which is expected to inject fresh volatility into the precious metals market.
From a technical perspective, $4,038 represents the first major hurdle for buyers, aligning with horizontal resistance and recent price congestion. Meanwhile, the $4,093–$4,120 zone remains the key confirmation area for a bullish momentum recovery.
A decisive breakout and sustained close above these levels would invalidate the current bearish scenario and pave the way for a move toward $4,216, with the potential for further gains in the short term. In my view, however, any meaningful upside breakout will depend on renewed buying momentum and improving investor sentiment toward gold.
On the downside, the bearish scenario cannot be ruled out if gold posts a clear break below $3,995. Such a move could expose the next key support at $3,960, while stronger-than-expected U.S. economic data could intensify selling pressure by reinforcing expectations that the Federal Reserve will maintain a restrictive monetary policy.
Therefore, I believe gold’s near-term direction will be determined by how the price reacts around the current support zone. Holding above it would favor a bullish rebound, whereas a confirmed breakdown would temporarily shift the advantage back to sellers.
Support: 3,995 – 3,960 – 3,920
Resistance: 4,038 – 4,093 – 4,216
investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions” src=”https://media.investing.com/images/abc0d5211f7b4b66cc2220d92d38293a_20260714024736.jpg” alt=”14.07.2026 – Gold – XAUUSD – Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform. Disclaimer: The chart reflects the analyst’s opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions” width=”474″ border=”0″/>
