FX.co ★ FX-Perfact | XAU/USD, GOLD

GOLD H4 Timeframe: Based on the GOLD H4 timeframe chart, the current price structure shows a relatively well-maintained bullish trend, although signs of short-term weakness are emerging after the price reached its latest peak. The price movement appears to have formed a series of higher highs and higher lows since late March, indicating buyer dominance in driving a gradual uptrend. Looking at the Moving Averages, the 100-day moving average (MA) (blue line) is below the price and slopes upwards. This indicates that medium-term momentum remains bullish. Meanwhile, the 200-day moving average (MA) is above the 100-day moving average (MA) and tends to be flatter, indicating that the long-term trend is transitioning from a neutral to a bullish phase, but is not yet fully established. The short distance between the price and the 100-day moving average (MA) indicates that the market is still healthy and not overextended, despite a fairly aggressive upward push. In terms of horizontal support and resistance, the area around 4889 to 4870 is the closest resistance area that has recently been tested. Price rejection in this area indicates significant selling pressure, likely stemming from profit-taking after the previous rally. As long as the price fails to break through and remain above this zone, consolidation or correction is still possible.

Below the current price, the 4838 to 4804 area provides significant minor support. This zone previously served as a consolidation area before a breakout, and now serves as a short-term demand zone. If the price can hold above this area, the opportunity to continue the uptrend remains open. However, if a valid downside breakout occurs, selling pressure could push the price lower toward the next support area around 4751 to 4739, which is also close to the 100-day moving average (MA). This area is key because it represents a balance point between buyers and sellers in the current trend structure. Further down, strong support lies in the 4699 to 4673 range, which previously served as a base before the last upward impulse. If the price falls below this area, the medium-term bullish structure will be seriously tested. A break below this zone has the potential to shift the bias to neutral or even bearish. Overall, as long as the price remains above the 100-day moving average (MA) and does not break through the key support below it, the primary bias remains bullish, with the trend likely to continue after the consolidation phase is over. However, the rejection at the upper resistance area indicates that the market is currently seeking a new equilibrium. The subsequent movement will likely be determined by the price reaction at the nearest support area, whether buyers are able to maintain their dominance or sellers take over in the short term.