GOLD H4 Timeframe: Gold (GOLD) price movement on the H4 timeframe shows quite interesting dynamics, with the price structure slowly beginning to form a bullish trend after a fairly long period of consolidation. The chart shows the price currently moving in the 4176–4180 area, approaching a minor resistance zone around 4190. Although upward pressure has not been explosive, there are signs that buyers are beginning to strengthen their positions as the price remains above the 100-day moving averages (MA) (blue line) and 200-day moving averages (MA) (red line). One technical indication supporting potential upside is the golden zone of these two moving averages. The 100-day moving average is currently sloping upward, while the 200-day moving average is showing a change in slope, indicating that the previous bearish momentum is weakening. As long as the price remains above these two moving averages, the medium-term trend is likely bullish. Therefore, the market structure is biased upward as long as no significant corrective candle closes back below the 100-day moving average.
The nearest support zone is seen at 4132—a horizontal level that previously served as a pivot and from which the price has bounced several times. If the price falls again and tests this area, the potential for a rebound is significant as long as buyers maintain their dominance. If the 4132 zone is broken, the 100- and 200-day moving averages (MAs) could once again become important areas to monitor, particularly around 4105 and 4080. These levels can serve as a defensive barrier for buyers before the trend turns neutral or even bearish. On the upside, key resistance is at 4246—an area that previously served as a major turning point in early November. If the price breaks through with a strong and valid candle, the opportunity to move towards higher resistance at 4380 will open. However, before reaching that level, the price must first overcome initial hurdles at 4190 and 4215. These two levels play a crucial role in measuring short-term buyer strength. The candlestick structure in the current area shows a consolidation pattern with an upward bias, with higher lows forming continuously since mid-November. This pattern indicates that the market is gradually building buying pressure. As long as there is no sharp reversal or strong rejection around resistance, the bullish scenario remains intact. Overall, GOLD is in a trend recovery phase on the H4 chart, with an increasingly strong bullish bias. A breakout above 4190 could be a catalyst for further upside, while a drop back below 4132 could potentially shift momentum to sideways.
