After the gold price opened in the early session, it surged sharply, and after breaking above 4100 on the four-hour timeframe, it then stabilized. In the short term, gold is forming a bottom around 3950, but for the bulls, there is still a key resistance level at 4200 above them.

Technically, both the hourly line and the four-hour line are biased toward the upside; in the short term, there is no clear trend of topping. However, current levels around 4140 also face some resistance.

For intraday short-term trades, it is recommended to buy on dips. In the short term, watch resistance around 4140. If there is a valid breakout, you can follow through and chase with a light position, targeting 4180—4200.$XAUUSD ‌