FX.co ★ XAU/USD, GOLD

Gold 4-Hour Analysis: I continue to closely monitor the movement of GOLD (GOLD) futures, which have resumed their upward trajectory following a recent pullback. The bullish contingent remains in control, consistently applying pressure to push the price toward new highs. A review of the 4-hour chart provides a technically supportive picture, with the price trading firmly above the Ichimoku cloud. This positioning is a clear indicator of sustained bullish momentum and suggests that long positions represent a viable strategy for market participants.This optimistic outlook is further corroborated by the stochastic oscillator, which is currently pointing upward after a bounce from its lower boundary, signaling building upward momentum. During today's trading session, the futures contract extended its gains, moving decisively north. Buyers demonstrated their strength by successfully securing consolidation above the pivotal level, and the price has advanced to a current level of 4074.20. The immediate intraday targets for further buying activity are the classic pivot resistance levels. Based on the current alignment of technical factors, it appears the upward movement is poised to continue from present levels. A decisive breakout above the first key resistance at 4089.90 is of particular importance, as it would likely trigger a new and potent wave of growth. This would pave the way for a continued northward move, with the next significant objective situated above the resistance line in the 4161.85 area.

However, should market dynamics shift and sellers attempt to stage a return, their primary reference point in this chart period would be the substantial support level at 3914.92. This level is strategically significant as it coincides with the upper border of the Ichimoku cloud, reinforcing its importance as a key defensive zone for the prevailing bullish trend.