XAU/USD | Gold Stabilizes Above $4790, Bullish Momentum Building

Apr 16

By analyzing the #Gold chart on the 4H timeframe, we can see that price once again reacted exactly as expected around the $4790 support level. After briefly dropping toward $4785, buyers quickly stepped in and price stabilized above this key level before starting another bullish move. Following this reaction, Gold rallied toward $4839 and is currently trading around the $4817 region, showing continued strength after the recent consolidation.

From a structural perspective, the nearest supply zones are forming around $4840 – $4870, followed by a stronger resistance cluster between $4900 – $4950. On the downside, the closest demand zones are located around $4790 – $4800, with deeper structural support sitting between $4740 – $4780. If bullish momentum continues to build, the next short-term upside targets to monitor are $4850, followed by $4875, then $4900, and potentially $4950 if buyers maintain control.

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Best Regards , Arman Shaban

Apr 17

Trade closed: target reached

By analyzing the #Gold chart on the 4H timeframe, we can see that price followed the expected bullish scenario perfectly. After holding above the $4790 support, strong buying pressure entered the market and pushed Gold sharply higher toward $4892, delivering more than 800 pips of return since yesterday. Currently, Gold is trading around the $4870 region, showing signs of short-term exhaustion after this aggressive move. In my view, a minor pullback is likely before continuation.

From a structural perspective, the nearest support zones are located around $4840 – $4855, followed by a stronger demand area between $4790 – $4820. On the upside, the closest resistance zones are forming around $4890 – $4920, with a stronger supply cluster between $4950 – $5000. If price completes a healthy correction and buyers step back in, the next short-term upside targets are $4900, followed by $4925, then $4950, and potentially $4980 if bullish momentum continues to build.