BUYERS ARE GAINING CONTROL — CAN GOLD BREAK ABOVE 4040?GOLD (US$/OZ)TVC:GOLDChum_tradesGold continues to defend the 3970–3990 support zone, where buying pressure has gradually strengthened after several failed attempts by sellers to push prices lower. The latest price action also shows a series of higher lows forming inside a short-term ascending channel, suggesting bullish momentum is building. From a technical perspective, Gold is attempting to break above the 4040 resistance, which aligns with the upper boundary of the current recovery structure. A confirmed breakout above this area would invalidate the immediate bearish sequence and could open the door for a stronger recovery toward the 4120–4140 resistance zone. As long as support remains intact, buyers continue to hold the short-term advantage. 📍 Key Levels: 🟦 3970 – 3990 Major support and buyers' defense zone. 🔴 4025 – 4045 Key breakout resistance. 🔴 4120 – 4140 Next bullish target and higher-timeframe supply zone. ☑️ Preferred Scenario: ✅ Gold holds firmly above 3970 support. ✅ Buying pressure gradually increases inside the recovery channel. ✅ A breakout above 4040 confirms a new bullish leg toward 4120–4140. ❌ Losing 3970 would invalidate the recovery structure and shift momentum back to the bears. 📊 Risk Management: • Wait for confirmation above 4040 before chasing long positions. • Use pullbacks into support for better risk-to-reward entries. • Keep position sizing conservative while the larger downtrend remains intact.