XAU (Gold) Update
$Gold rebounds above $4,750 on ceasefire optimism, but still trading below EMA50 (4H) at $4,775, which is acting as strong resistance.
A solid break and close above $4,775 could trigger a move toward $4,800 resistance in the short term.
Price is still respecting the rising channel - keeping Gold supported above $4,700 while structure remains intact.
A breakdown below the channel could lead to a deeper drop toward $4,560.
MACD is turning positive, indicating easing sell pressure and gradual buyer strength returning.
All eyes on $4,775 - break above confirms upside, rejection may delay the move.
XAUUSDT
Perp
4,576.26
-2.72%