FX.co ★ FX-Perfact | XAU/USD, GOLD

Gold H4: Bullish Structure Still Looks Strong, But Confirmation Matters Gold is showing a very interesting structure on the H4 chart after the strong recovery from the 4000–4060 area. The recent move has clearly shifted the short-term momentum to the upside, with price now trading well above both major moving averages. The 100 MA has also moved above the 200 MA, which supports the idea that the broader H4 structure is becoming bullish. At the moment, price is consolidating around 4374 after testing the 4410–4420 resistance zone. I would not consider this consolidation bearish by itself. After such a strong impulsive move, some sideways movement or a controlled pullback is normal. What matters now is whether buyers continue to defend the recent support levels.

The first important area I am watching is around 4340–4350. If price holds this zone and forms a strong bullish H4 rejection or higher low, it could provide a good setup for another move toward 4410–4420. A clean H4 breakout and close above that resistance would be even stronger confirmation and could open the way toward the next upside levels around 4480 and potentially 4550. On the other hand, if 4340 breaks with strong bearish momentum, I would expect a deeper correction toward the 4270 area before looking for another bullish reaction. The bigger structure would still remain constructive unless price starts breaking the important higher-low zones and moving averages. For me, the key is not to chase the current price after the previous rally. I would rather wait for either a clean breakout above resistance or a healthy pullback into support followed by bullish confirmation. The trend currently favors buyers, but patience is important. A good bounce from support could offer a much cleaner risk-to-reward opportunity than entering in the middle of the current range.