Gold Setup: Bulls Defend 4k as Upside Targets Come into focusGold FuturesCOMEX_DL:GC1!CityIndexI outlined a case for gold bulls to defend the 4,000 level in a recent video, based on stretched bearish price action relative to seasonality and a bullish RSI divergence. We can now see that bears failed to sustain a break below 4,000, allowing gold to stage a modest rebound. While prices have since retraced lower, there are early signs of support forming and a potential higher low. Yesterday's doji formed on higher volume, suggesting a potential change of hands from bears to bulls. Its low also respected a weekly VPOC. Bulls could consider buying dips towards 4,000, although with any luck price won't retrace that far. The monthly pivot point and last week's high sit either side of the 4,200 handle, providing a potential near-term upside target. A break above that brings the 100% projection and the 4,300 level into focus. Note that the 200-day EMA and June VPOC sit just above 4,300, making it a likely zone of resistance. MS.