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XAU/USD (Gold) Technical Analysis — 4-Hour Chart
Gold prices have seen mixed trading in recent sessions, with short-term momentum tilting toward a gradual pullback following the previous session’s high of 4,706, as markets remain in a cautious, wait-and-see mode.
Technical Outlook — Daily Trend: Bullish Bias Intact
Despite the current volatility, gold’s broader trend continues to favour the upside on the daily timeframe, supported by several constructive technical factors. Price is trading above the 50-day simple moving average, which is serving as dynamic support and reinforcing the continuation of the uptrend. The RSI is also attempting to reclaim positive momentum, suggesting a gradual return of buying interest, while price action holds above an ascending corrective trendline — lending further support to the bullish case.
Key Levels to Watch
As long as gold holds above the pivotal support level of 4,600, the bullish scenario remains the more probable path. A decisive break above 4,707 would serve as a strong bullish signal, potentially driving prices toward an initial target of 4,760. On the downside, a clear break below 4,600 would put the uptrend under threat, exposing the market to selling pressure with 4,547 as the next key support target.
⚠️ Risk Warning: Gold trading carries a relatively high level of risk and may not be suitable for all investors. Ongoing trade tensions and geopolitical uncertainty mean all scenarios remain possible — risk management is essential.
Risk Disclaimer: Trading CFDs involves risks, and therefore all scenarios may be plausible. The content above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 4600.00 | R1: 4707.00 |
| S2: 4547.00 | R2: 4760.00 |
| S3: 4495.00 | R3: 4813.00 |
