FX.co ★ XAU/USD, GOLD

Gold H4: Bullish Structure Still Holds After the Pullback Gold on the H4 chart is showing a strong bullish structure after a powerful upside move from the 4000–4100 area. Price has recently climbed toward the 4647 region, where selling pressure appeared and a short-term correction started. The current price is around 4596, so the market is now testing whether buyers can regain control after this pullback. The most important near-term level is around 4567. This area is acting as immediate support, and holding above it would keep the bullish setup technically healthy. If buyers defend this zone and a strong bullish candle appears on H4, it could provide a reasonable confirmation for another upward move. The first area to watch on a recovery would be 4647, followed by the psychological 4700 region. The moving averages also support the broader bullish view. Price remains comfortably above both major moving averages, while the faster average has turned upward and is positioned above the slower one. This alignment suggests that the medium-term trend remains positive rather than bearish.

However, I would not ignore the possibility of a deeper retracement. If 4567 fails with a convincing H4 close below it, gold could move toward the 4486 area before finding stronger demand. A decline into that zone would not automatically mean the entire bullish trend has ended, but it would indicate that the market needs more time to stabilize. For me, the key is patience around support rather than chasing the price near resistance. If 4567 holds and buyers return with strong momentum, the chart could attempt another test of 4647 and potentially continue toward higher levels. A clean breakout above 4647 would strengthen the bullish continuation scenario. Overall, the H4 structure remains bullish, but the current correction needs to be respected. I would focus on price reaction around 4567 and wait for confirmation before considering the next move.