Gold Price Analysis: Technicals Point to $5,380 as Next Target

The recent rebound in gold prices has quietly shifted market sentiment. What was initially seen as a normal correction now looks more like the beginning of a new upward cycle. Several technical analysts point out that if the current support structure holds, gold prices are likely to rise further. In the shorter-term charts, gold prices have shown clear signs of stabilization, holding firmly above levels that have repeatedly acted as key buying areas. Trader Uzaif FX, in a technical analysis posted on X, pointed out that a "Change of Character (ChoCh)" signal has appeared on the XAUUSD chart, coupled with a strong bullish order block reaction. This is often a hallmark signal of buyers regaining control of the market structure. The $5,100 to $5,125 range is widely regarded as the foundation of the current rally. Whenever the price falls back to this area, buying quickly intervenes, forming effective support and strengthening bullish confidence.

Source: X/Uzaif FX Another market observer, Shirley, is also optimistic about the future of gold. Her analysis shows that gold prices have successfully held above the broad support zone of $5,050 to $5,100, an area that has played a key turning point role in numerous past corrections. After breaking through $5,170, Shirley expects gold prices to resume their upward trend in the coming weeks, with a short-term target range of $5,200 to $5,240, the first cluster of resistance that urgently needs to be broken. From a larger cycle perspective, gold prices have been running in a clear upward channel since the beginning of the year. The recent correction has not broken this trend, but has instead formed higher lows, further confirming the integrity of the upward structure. If the current momentum continues, the price is expected to approach the upper edge of the channel at $5,594, a key medium- to long-term resistance level. Currently, gold is at $5,170, in the middle of the channel, with a structural basis for an upward breakout.

Source: X/Shirley Overall, key future price nodes include: - Upper Resistance: $5,200–$5,240 (short-term) → $5,300 (secondary) → $5,380 (potential target) - Lower Support: $5,100–$5,125 (core), $5,050 (strong support) If gold prices break through $5,240 and hold, market sentiment will shift further into positive territory, and $5,380 could become a landmark target for the next stage. Traders should pay close attention to changes in volume and the holding of support levels to determine the reliability of trend continuation.