🏆 Weekly Gold (XAUUSD) Review for Gold Lovers: Bulls Defend the Trendline🚀

🔷 Market Overview

Gold closed the week at $4,715.71, surging approximately 0.61% in the final session. The daily chart confirms a successful defense of the long-term ascending support line after a period of intense volatility.

Buyers have stepped in to prevent a deeper slide, shifting the immediate narrative from a bearish breakdown to a potential trend reversal.

🔷 Technical Snapshots

🟢 Bollinger Bands (Daily)

Price sits at $4,715.71, currently testing the 20 SMA middle band ($4,695.71). The upper band at $4,881.40 serves as the next major target, while the lower band remains at $4,510.01.

On the 4H, price has pushed above the middle band ($4,684.72), with immediate resistance at the upper band of $4,784.84.

🟢 RSI (Relative Strength Index)

Daily RSI 14 is at 51.74, indicating a shift back to neutral-bullish territory as momentum recovers from recent lows.

4H RSI 14 is at 62.91, showing strong upward momentum. This suggests buyers are currently in control.

🟢 Support & Resistance

Immediate support: $4,695.71 (Daily middle BB) and $4,684.72 (4H middle BB). Major support: $4,510.01 (Trendline and Daily lower BB).

Resistance: $4,784.84 (4H upper BB), then the $4,874–$4,881 zone (Recent swing highs and Daily upper BB).

🔷 Next Week -Key U.S. Economic Data to Watch

🟢 Consumer Price Index (CPI) - 12 May 2026

🟢 Producer Price Index (PPI) -13 May 2026

🟢 Retail Sales- 14 May 2026

Hot inflation data could revive fears, testing the $4,695 support. Conversely, soft inflation may fuel a breakout toward $4,881.

🔷The Verdict

Neutral-to-Bullish bias. The successful bounce off the long-term trendline at $4,510 is a major victory for bulls.

A sustained hold above $4,716 opens the door to $4,880+. Only a break back below $4,684 on the 4H would signal a return to bearish sentiment.

Not financial advice. Do your own DD and practice risk management 😉.