1. Market Recap

- This morning, gold accelerated upward from around 4,076, surged to around 4,141 before 11:00, forming a steep rising channel, with an overall strong uptrend.

- Previous key lows: 3,960 and 3,980; the recent pullback low at 4,040 has also already been broken upward.

- Previous key highs: 4,200, 4,180, 4,140, 4,120; of these, 4,140 and 4,120 have been broken, and 4,200 is the current core resistance level.

2. Analysis of Key Levels

- Support levels: 4,070 (today’s breakout point; if it breaks down, the uptrend is temporarily over and price may drop to 4,040), 4,040 (the recent pullback low; once broken, the uptrend would be completely reversed).

- Resistance levels: 4,140 (already broken; next targets 4,160 and 4,180), 4,200 (a key resistance at the daily timeframe; if the weekly close is above 4,200, the outlook may shift toward 4,300-4,380).

3. Market Forecast

- Short term: As long as 4,070 support holds, the evening is likely to maintain a rebound pattern, testing upside resistance at 4,160 and 4,180.

- Medium term: If 4,200 can be effectively broken and sustained, it will open up more upside room, with a potential push toward the prior highs of 4,300-4,380.

- Risks: If 4,070 is broken, the market will turn into a consolidation-to-down move, testing 4,040 support.

4. Trading Reference (Personal View Only, Not Investment Advice)

- Long positions: On pullbacks and stabilization in the 4,070-4,080 zone, you may consider initiating positions; stop loss below 4,060; targets 4,140 and 4,180.

- Short positions: On the first touch of the 4,180-4,200 zone showing pressure, you may try shorts with a light position size; stop loss above 4,210; targets 4,140 and 4,100.

- Key node: Closely watch whether 4,200 breaks, as this is the core prerequisite for determining whether this round of upside can form a reversal.

Reminder: The market is risky; trade with caution. The above analysis is for personal views only and does not constitute any investment advice. $XAUUSD ‌