Gold Holds 4600 Strong — Bulls Target 4800 Again

Apr 6

Gold opened the week on a softer note, dropping once again into the 4600 support zone. However, the downside was quickly rejected, and during the Asian session, price recovered strongly, pushing back toward the 4680 resistance area.

The key question now is: is this just another bounce in a range, or the start of a bullish continuation?

From my perspective, the reaction from 4600 is important.

Why upside looks more probable:
- The 4600 zone continues to act as strong support
- Price was quickly bought after the dip — showing demand is very present
- The structure suggests accumulation rather than distribution (at least short-term)

Key Levels to Watch:
Above 4700 → confirms strength and opens the door toward 4800
Below 4600 → would invalidate the bullish scenario

Trading Plan:

I’m leaning bullish for now and will look to buy dips, ideally into support zones that offer a clean risk-to-reward setup.

Conclusion:

As long as 4600 holds, the path of least resistance looks higher.

But the market still needs to confirm with a clean break above resistance.

Apr 8

Trade closed: target reached