Weekly Gold Market Analysis 17Aug-22Aug2026XAUT / TetherUS PERPETUAL CONTRACTBINANCE:XAUTUSDT.PTradeMingXAUUSD In this Gold analysis, I am looking at the market from the **Daily and 4H timeframes** to understand what price is telling us at the current levels. Right now, Gold is trading around **4364**, which means price is currently above the **Daily level at 4347.35**, but it is still below the important **4H resistance at 4377.42**. For me, these two levels are very important because the next move will depend on how price reacts around them. ### Daily Timeframe On the Daily timeframe, **4347.35 is the important level I am watching**. As long as Gold continues to trade above this level, the market can maintain its current bullish structure. However, if we get a **Daily closing below 4347.35**, then I would expect the selling pressure to increase and price to move toward the next lower Daily support at: **4282.91 – Daily Main Support** So I am not considering every move below 4347 intraday as a bearish confirmation. What matters to me is the **Daily closing price**. If the Daily candle closes below this level, then the market is likely to move toward the lower Daily support. ### 4H Timeframe On the 4H timeframe, the immediate level I am watching is: **4377.42 – 4H Resistance** This is the level where Gold needs to show strength. If Gold breaks above **4377.42** and, more importantly, **stays above this level**, then the market is likely to move toward the next higher level: **4426.55 – 4H Top** This is the next major resistance that I am watching on the chart. So the 4H condition for me is very simple: **Breaking above 4377.42 + staying above it = bullish continuation toward 4426.55.** ### What If Gold Gets Rejected? If Gold fails to break **4377.42** and starts moving back below **4347.35**, then I would become cautious about the upside. The first important downside level would be: **4282.91 – Daily Main Support** This is a much more important support because it is coming from the Daily timeframe. If the Daily support at **4282.91** also fails, then the next major 4H support marked on the chart is: **4105.66** Below that, the larger structural level marked on the chart is around: **4000 – Bear Level** ### My Overall View My current view on Gold is therefore **conditionally bullish**. I am not looking at the market simply because price is moving higher. I am looking at how price behaves around the levels. At the moment: **Above 4347.35 → bullish structure remains intact.** **Above 4377.42 and staying above it → bullish continuation toward 4426.55.** **Daily closing below 4347.35 → downside opens toward 4282.91.** **Break below 4282.91 → deeper correction becomes possible toward 4105.66 and potentially 4000.** So, for me, the immediate question is not whether Gold is bullish or bearish in isolation. The important question is: **What does Gold do at 4347.35 and 4377.42?** If buyers can keep price above the Daily level and then establish acceptance above the 4H resistance, I would expect the market to continue toward the **4426.55 4H Top**. But if Gold starts closing below the Daily level, then I would expect the market to move toward the lower Daily support before looking for the next reaction.