XAU/USD Bulls Defend Support, Eyeing 4388 Breakout TargetGoldOANDA:XAUUSDCHART_MASTERS_GOLDXAU/USD (Gold) – 15M Technical Analysis Bias: Bullish Reversal from Support Zone The chart shows gold declining sharply before finding support around the 4315–4297 demand zone. Price has repeatedly respected this area, suggesting buyers are defending the level. Key Observations Strong Support: 4315–4297 zone has acted as a demand area after the recent selloff. Rejection Wicks: Multiple lower-wick candles indicate buying pressure emerging from support. Potential Reversal Structure: Price appears to be forming a base, increasing the probability of an upside recovery. Bullish Risk-to-Reward Setup: The proposed long position offers a favorable reward relative to the stop-loss distance. Trade Setup Entry Zone: 4315–4318 Stop Loss: 4295 Target: 4387–4388 Potential Gain: Approximately +71 points (around +1.64%) Bullish Confirmation Buyers would gain stronger control if price: Holds above 4315 support. Breaks above recent intraday highs near 4330. Maintains higher lows on the 15-minute timeframe. Invalidation A decisive close below 4295 would invalidate the bullish setup and could trigger further downside momentum. Conclusion Gold is showing signs of a bullish rebound from a well-defined support zone. As long as 4295 remains intact, the path of least resistance favors a move toward the 4387 target area, offering an attractive risk-to-reward opportunity for short-term buyers.