Gold weekly chart with buy and sell levels 12/04/25GoldOANDA:XAUUSDF0rexBorexExpecting a bearish open due to recent news Overview Gold is currently navigating a high-volatility "coiling" phase. As of mid-April 2026, the price action is trapped between structural Fibonacci support and psychological resistance, heavily influenced by the ongoing diplomatic efforts in the Middle East. Technical Breakdown 1. The Long Trigger (Buy Entry): $4,770 Logic: This is a Momentum Breakout entry. Entering at $4,770 signifies a move above the local consolidation zone and a successful defence of the lower support tiers. Target: Primary resistance at the $4,800 psychological level, followed by the major supply zone at $4,860 (Green Resistance Line). Confirmation: A 4-hour candle close above this level confirms that buyers have absorbed the recent "Sell the News" pressure. 2. The Short Trigger (Sell Entry): $4,730 Logic: This is a Structural Breakdown play. $4,730 acts as a critical pivot point on the Fibonacci scale (near the 0.5/0.618 transition). Target: A retest of the deep structural support at $4,645 (Red Support Line). Confirmation: A break below $4,730 suggests that the "Safe Haven" premium is rapidly exiting the market, signaling a shift from a bullish to a neutral/bearish bias. Fundamental Drivers (Middle East Context) The market is currently reacting to the U.S.-Iran-Pakistan diplomatic corridor. Bullish Case ($4,770+): If negotiations hit a stalemate or if sporadic skirmishes in Lebanon escalate, Gold will likely reclaim its war premium and push toward $4,900. Bearish Case (Below $4,730): If a formal two-week ceasefire is ratified and the Strait of Hormuz remains stable, expect a "cool down" period where Gold sheds its recent gains to find a fundamental floor. Key Levels to Watch Major Resistance: $4,850 - $4,860 (Green Lines) Immediate Pivot: $4,750 Major Support: $4,645 (Red Line) Risk Note: Given the current 2026 geopolitical climate, volatility is exceptionally high. Ensure your stop-losses are adjusted for wider spreads. Trade Safe! Disclaimer: This is a technical/fundamental analysis for educational purposes and not financial advice.