Pullback Into Demand After ATH, Trend Still ConstructiveOn the H1 timeframe, Gold remains in a strong bullish context despite the recent pullback. The market previously delivered a clean impulsive expansion, breaking structure and printing a new ATH, which confirms higher-timeframe bullish control. The current retracement should be read as profit-taking and liquidity rebalancing, not a trend reversal. Price is now reacting inside the key demand zone around 4,760–4,780, which aligns with the prior breakout base and sits well above the EMA 98 a classic bullish pullback into value. The sharp rejection wick into this zone shows buyers are still active, absorbing sell pressure. As long as price continues to hold above this demand, the structure remains intact and the move is best classified as continuation consolidation. From a price action perspective, the ideal scenario is sideways-to-higher rotation above demand, followed by a renewed push toward the ATH at ~4,888, and if momentum expands again, continuation toward 4,900–4,920 becomes technically reasonable. The projected green path on the chart reflects this expectation: higher low formation → reclaim momentum → breakout attempt. Invalidation is clear and clean: a decisive H1 close below the demand zone would signal acceptance back into the previous range and open a deeper pullback toward the gap / demand premium below. Until that happens, bias remains bullish with patience, not chase.
trend is still up, pullback is constructive, and this zone is where continuation setups are built not where fear should dominate.
