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Gold is maintaining a relatively stable recovery structure after the previous sharp decline. Price has moved back above both the 34 EMA (red) and the 89 EMA (blue), with both averages starting to slope upward—indicating that the short-term trend is gradually turning positive.
Notably, after entering the 4,850–4,900 zone, price has not faced strong selling pressure. Instead, it is moving within a tight range with mixed up-and-down swings. The presence of multiple small-bodied candles suggests that the market is in a “supply absorption” phase rather than forming a clear reversal signal. This is often characteristic of a consolidation phase just below resistance.
From a structural perspective, the 4,780–4,800 zone is acting as near-term support, aligning with the 34 EMA. As long as price holds above this area, the recovery trend may continue, with a potential retest of the 4,900–4,950 zone. On the other hand, if this support is lost—especially with a move back below the 89 EMA around 4,750—the structure would weaken, and the market could shift into a broader sideways range.
Gold is maintaining a relatively stable recovery structure after the previous sharp decline. Price has moved back above both the 34 EMA (red) and the 89 EMA (blue), with both averages starting to slope upward—indicating that the short-term trend is gradually turning positive.
Notably, after entering the 4,850–4,900 zone, price has not faced strong selling pressure. Instead, it is moving within a tight range with mixed up-and-down swings. The presence of multiple small-bodied candles suggests that the market is in a “supply absorption” phase rather than forming a clear reversal signal. This is often characteristic of a consolidation phase just below resistance.
From a structural perspective, the 4,780–4,800 zone is acting as near-term support, aligning with the 34 EMA. As long as price holds above this area, the recovery trend may continue, with a potential retest of the 4,900–4,950 zone. On the other hand, if this support is lost—especially with a move back below the 89 EMA around 4,750—the structure would weaken, and the market could shift into a broader sideways range.
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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.