FX.co ★ FX-Perfact | XAU/USD, GOLD

GOLD H1 Timeframe: Based on the GOLD chart on the H1 timeframe displayed, the price movement has generally shown a fairly solid uptrend in recent days. This can be observed from the price structure, which has formed a series of higher highs and higher lows since mid-January. The price has consistently moved above two key indicators, the 100-day moving average (MA) and the 200-day moving average (MA), each acting as dynamic support in maintaining the trend direction. The 100-day moving average (MA) appears closer to the price and follows the movement with a fairly sharp upward slope, while the 200-day moving average (MA) is lower with a gentler slope, confirming that this uptrend is not fleeting but has been structurally established. The bullish momentum appears to be growing stronger as the price successfully made a significant impulse, breaking through the previous resistance area in the 5280-5310 range and continuing its rise towards the 5470-5500 area. This area then served as strong resistance, as evidenced by the emergence of quite aggressive selling pressure after the price formed a temporary peak around 5590. The subsequent sharp decline brought the price down close to the 100-day moving average (MA), but interestingly, it failed to break through the 200-day moving average (MA). This is an important signal that the selling pressure was more of a corrective action than a trend reversal. The price reaction around the 100-day moving average (MA) indicates a re-entry of buying interest. The formation of candles with fairly long lower tails in this area reflects a rejection of the low price and indicates that market participants still view the area around the 100-day moving average (MA) as a reasonable accumulation zone in an uptrend. As long as the price remains above the 100-day moving average (MA) and does not consistently close below the 200-day moving average (MA), the bullish bias remains relatively intact.

In terms of support and resistance structure, the 5280–5310 area now serves as key support. As long as the price moves above this zone, the opportunity for continued upside towards the resistance levels of 5470 to 5590 remains open. However, it should be noted that increased volatility at the recent peak indicates the presence of short-term distribution. Therefore, the next move will likely be marked by a consolidation phase or technical correction before the price determines a clearer further direction. If the correction continues and the price breaks through the 100-day moving average (MA), the 200-day moving average (MA) in the 5040–5060 range will become crucial dynamic support. A clear break below the 200-day moving average (MA) at the close of the first half of the day would shift the trend structure to neutral to bearish in the short term, opening the possibility of a deeper decline towards horizontal support in the 4960 or even 4800 area. Conversely, if the price is able to break through and maintain above the 5500 area, this would strengthen the bullish scenario, with the potential for a retest of the previous high. Overall, GOLD's technical analysis on the first half of the day indicates that the primary trend remains bullish, with healthy corrections part of the market dynamics. The 100-day moving average (MA) and 200-day moving average (MA) remain important references for assessing trend strength and potential reversals. As long as the price respects these two moving averages, the upward trend remains dominant, although traders should remain vigilant regarding high volatility and maintain disciplined risk management.