Gold Weekly Forecast – April Week 2
Last week, Gold (XAU/USD) reached a new all-time high at $3,168, before closing the week near $3,035, printing a strong bearish weekly candle.
Despite the current risk-off sentiment in global markets — with the VIX spiking to 29 — Gold is not behaving like a safe haven just yet. Instead, the technicals suggest a pullback is necessary.
There is a clear imbalance and untested support zone around $2,960, which price has yet to revisit.
Primary Scenario:
• Gold may open the week with a bullish bounce toward $3,070
• Then reverse with a sharp bearish leg down to $2,960
• From there, we reassess — Gold could react strongly and resume its bullish trend, or continue correcting deeper.
Bias: Bearish → Bullish (if $2,960 holds)
Key Levels:
• Resistance: $3,070
• Support: $2,960 (main zone to watch)
This scenario matches both the technical need for a pullback and the macro confusion around gold’s role as a safe haven this week.
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Weekly forecast by Sphinx Trading
Drop your thoughts in the comments.
#Gold #XAUUSD #GoldForecast #TechnicalAnalysis #SphinxWeekly #SafeHaven #VIX #Commodities #MarketOutlook
Last week, Gold (XAU/USD) reached a new all-time high at $3,168, before closing the week near $3,035, printing a strong bearish weekly candle.
Despite the current risk-off sentiment in global markets — with the VIX spiking to 29 — Gold is not behaving like a safe haven just yet. Instead, the technicals suggest a pullback is necessary.
There is a clear imbalance and untested support zone around $2,960, which price has yet to revisit.
Primary Scenario:
• Gold may open the week with a bullish bounce toward $3,070
• Then reverse with a sharp bearish leg down to $2,960
• From there, we reassess — Gold could react strongly and resume its bullish trend, or continue correcting deeper.
Bias: Bearish → Bullish (if $2,960 holds)
Key Levels:
• Resistance: $3,070
• Support: $2,960 (main zone to watch)
This scenario matches both the technical need for a pullback and the macro confusion around gold’s role as a safe haven this week.
—
Weekly forecast by Sphinx Trading
Drop your thoughts in the comments.
#Gold #XAUUSD #GoldForecast #TechnicalAnalysis #SphinxWeekly #SafeHaven #VIX #Commodities #MarketOutlook
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.