Gold can be expected to rise further toward the next resistance level 4200.00 (which stopped the previous correction 2 in October).
- Gold reversed from strong support level 3890.00
- Likely to rise to resistance level 4200.00
Gold recently reversed up from the support zone between the strong support level 3890.00 (which has been reversing the price from October 2025, as can be seen from the weekly Gold chart below) and the lower weekly Bollinger Band. The upward reversal from this support zone created the weekly Japanese candlesticks reversal pattern Bullish Engulfing, which stopped the previous short-term downward impulse from the middle of October.
Given the strength of the support level 3890.00 and the strongly bullish sentiment seen across the precious metal markets today on the sliding US dollar, Gold can be expected to rise further toward the next resistance level 4200.00 (which stopped the previous weekly correction 2 in October).