Gold is trading around 4,690, continuing its bullish recovery after breaking above the major descending trendline on the H4 chart. Momentum has shifted short-term, but price is now approaching an important reaction area before the next expansion.
Market Context
Markets continue digesting the latest Fed stance after FOMC USD softening slightly after recent strength → helping gold recover Geopolitical tensions in the Middle East remain unresolved Safe-haven demand still present, but volatility remains headline-driven.
Technical Overview (H4)
Price successfully broke the long-term bearish trendline Current structure suggests a possible break → retest → continuation setup Key retest zone sits around 4,598 Holding above this level keeps bullish momentum intact.
IF–THEN Scenario
IF price retests and holds above 4,598 → Bullish continuation remains valid → Upside targets: 4,715 → 4,766 → 4,891
IF price loses the retest zone → Failed breakout scenario → Market could rotate back into consolidation.
Key Levels
Resistance: 4,715 → 4,766 → 4,891 Retest Zone: 4,598 Current Price Area: 4,680 – 4,690
Trading Insight The H4 structure is showing the first meaningful bullish shift in weeks. Now the market needs confirmation through a successful retest.
Question for traders: Is this the start of a larger bullish reversal… or another breakout trap before rejection?
Market Context
Markets continue digesting the latest Fed stance after FOMC USD softening slightly after recent strength → helping gold recover Geopolitical tensions in the Middle East remain unresolved Safe-haven demand still present, but volatility remains headline-driven.
Technical Overview (H4)
Price successfully broke the long-term bearish trendline Current structure suggests a possible break → retest → continuation setup Key retest zone sits around 4,598 Holding above this level keeps bullish momentum intact.
IF–THEN Scenario
IF price retests and holds above 4,598 → Bullish continuation remains valid → Upside targets: 4,715 → 4,766 → 4,891
IF price loses the retest zone → Failed breakout scenario → Market could rotate back into consolidation.
Key Levels
Resistance: 4,715 → 4,766 → 4,891 Retest Zone: 4,598 Current Price Area: 4,680 – 4,690
Trading Insight The H4 structure is showing the first meaningful bullish shift in weeks. Now the market needs confirmation through a successful retest.
Question for traders: Is this the start of a larger bullish reversal… or another breakout trap before rejection?
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.
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.