Hello everyone,
On the H4 timeframe, the key focus right now is not the short-term decline, but the fact that gold’s primary uptrend remains intact. After a strong rally that pushed price into the 4.52x–4.55x zone, the market has started to show a corrective reaction. This is a typical development when price has advanced too quickly and needs a pullback to test the strength of buying interest at elevated levels.
From a structural perspective, the uptrend has not been violated. Price is still trading above both EMA34 and EMA89, even though profit-taking pressure has become more visible in recent sessions. The cluster of moving averages below price continues to act as dynamic support, suggesting that the current decline is corrective in nature rather than the beginning of a trend reversal.
In terms of key levels, the 4.45x–4.46x area is the first nearby support to watch, where price may retest and react around EMA34. If selling pressure extends further, the 4.40x–4.42x zone becomes the next important area of interest, aligning with EMA89 and a prior consolidation base. Only a clear breakdown below this region would seriously challenge the bullish scenario. At this stage, price action still fits well with a technical pullback within a dominant uptrend.
On the H4 timeframe, the key focus right now is not the short-term decline, but the fact that gold’s primary uptrend remains intact. After a strong rally that pushed price into the 4.52x–4.55x zone, the market has started to show a corrective reaction. This is a typical development when price has advanced too quickly and needs a pullback to test the strength of buying interest at elevated levels.
From a structural perspective, the uptrend has not been violated. Price is still trading above both EMA34 and EMA89, even though profit-taking pressure has become more visible in recent sessions. The cluster of moving averages below price continues to act as dynamic support, suggesting that the current decline is corrective in nature rather than the beginning of a trend reversal.
In terms of key levels, the 4.45x–4.46x area is the first nearby support to watch, where price may retest and react around EMA34. If selling pressure extends further, the 4.40x–4.42x zone becomes the next important area of interest, aligning with EMA89 and a prior consolidation base. Only a clear breakdown below this region would seriously challenge the bullish scenario. At this stage, price action still fits well with a technical pullback within a dominant uptrend.
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Join my crypto group to stay updated with the market in a clear, simple, and practical way
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.