Aetram Global Research: XAUUSD (Spot Gold) Technical Research Report - 03.11.2026

Aetram Global Research: XAUUSD (Spot Gold) Technical Research Report

Gold Reaches 3960 as Recovery Accelerates; Clearing 3982 May Unlock 4002 While 3945 Becomes the Key Pullback Risk

• Chart Name: XAUUSD (Spot Gold)
• Current Market Price: 3955
• Current Trend: Gold recovery has strengthened toward major resistance, while broader bearish structure remains unresolved.
• Trend Dominance: Bulls control immediate momentum, but bears still defend the 3962–3982 resistance zone.

CHART OUTLOOK & PREDICTION

• Spot Gold has extended its rebound from 3900 to 3960, bringing price directly into the 3962–3982 major moving-average resistance cluster. Latest chart readings showed RSI at 64.81, improving MACD and ADX at 38.72, supporting recovery momentum. Acceptance above 3982 may expose 4002–4022, while rejection and weakness below 3945 could return focus toward 3925.

UPCOMING EVENTS

• U.S. JOLTS weakness may ease yields and support gold sentiment (Positive Catalyst)
• Strong October employment data could pressure gold through higher yields (Negative Catalyst)
• Softer October CPI may improve gold through lower rate expectations (Positive Catalyst)

MAJOR SUPPORT AND RESISTANCE

• Support Levels: 3945 / 3925 / 3900
• Resistance Levels: 3962 / 3982 / 4002

TREND, VOLUME & DOW THEORY ANALYSIS

• Dow Theory is improving as Gold forms a higher low near 3900 and extends toward 3960. Buying participation strengthened during the rebound, while short-term momentum remains constructive. However, declining major averages still cap the broader structure, making 3962–3982 crucial for reversal confirmation.

SCENARIO-BASED OUTLOOK

• Bullish Scenario: Above 3982, price may move toward the 4002–4022 zone.
• Bearish Scenario: Below 3945, downside risk could extend toward the 3925–3900 zone.
• Neutral Scenario: Between 3945–3982, consolidation near major resistance may remain likely.

FINAL TAKEAWAY

• Spot Gold has strengthened materially from the 3900 base and is now testing the important 3962–3982 resistance area. Momentum favours the recovery, but confirmation remains incomplete. Sustaining above 3982 could broaden upside scope, while weakness below 3945 may trigger renewed consolidation.

CAUTION NOTES

• All Positivity Negates on breaking below 3945.
• All Negativity Negates on breaking above 3982.

DISCLAIMER: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.