Mobarok Hossain
April 25, 2024
Spot Gold (XAU/USD) has confirmed a bearish breakout from its 1-hour **Descending Triangle** pattern, breaching the horizontal support floor at **4,115.00**. Price action is currently staging a short-term pullback to retest the broken support zone as new resistance, laying the groundwork for a continuation leg lower toward primary structural support.
**Key Technical Levels**
* **Retest Resistance Zone:** **4,110.00 – 4,115.00** — Previous Break of Structure (BOS) support turned resistance.
* **Secondary Trendline Resistance:** **4,130.00** — Confluence with the descending triangle boundary.
* **Structural Invalidation (MSS Level):** **4,147.697** — Major supply zone and bullish pivot.
* **Primary Downside Objective:** **4,073.140** — Key higher-timeframe support floor.
* **Overhead Liquidity Target:** **4,190.797** — Relevant only upon a sustained breach above 4,147.697.
---
### **Technical Breakdown & Strategy**
1. **Breakdown Confirmation:** The decisive H1 close below **4,115.00** validated seller control, shifting immediate order flow downward.
2. **Retest Execution Zone:** The current corrective push toward **4,115.00 – 4,130.00** offers an institutional retest opportunity. Rejection from this zone confirms lower-high structure and prepares price for the expansion leg toward **4,073.140**.
3. **Invalidation:** A clean acceptance and H1 candle close back above **4,147.697** invalidates the bearish setup, restoring a bullish outlook toward **4,190.797**.
---
*Disclaimer: This analysis is provided strictly for educational purposes and does not constitute financial or investment advice.*
