Gold (XAU/USD) Technical Analysis – H1

The asset is in a corrective phase following the formation of a triple top in the $4,430–4,440 area. The critically important support for the bulls stands at $4,360, which currently protects the ascending structure from a breakdown. A decisive break below this level would signal the end of the bullish trend, so buyers are expected to defend it actively.

Key Levels:

□ $4,360 – critical support

□ $4,430–4,440 – triple-top resistance zone

□ $4,320 – downside target on breakdown

Primary Scenario:

Completion of the decline near $4,360, followed by an upward swing targeting $4,440.

Alternative Scenario:

Break below $4,360 and further decline toward $4,320.

Analyst Commentary:

The prevailing trend remains bullish; however, the recent failure of buyers to establish a new structural high highlights notable weakness that cannot be ignored.