Gold on the 4-hour timeframe has entered a critical zone after a deep correction from the 5,000 area. Price is now fluctuating near the mid-term support zone between 4,620 and 4,630. Recent price structure suggests that after the sharp decline from the highs, the market moved into a consolidation phase and is now trading near the lower boundary of that range, which could set the stage for the next major move.
In the upper section of the chart, the pink zone is marked as a Daily FVG (Fair Value Gap), roughly between 4,760 and 4,950. This area can act as a price magnet, and if buyers manage to defend the current support, the probability of price moving higher to fill this imbalance and retest upper supply zones increases. As long as price remains below this zone, the market is still technically in a corrective phase, but a return toward it could signal renewed bullish strength.
On the downside, the 4,505 level stands out as a key short-term support and an important local low. This zone aligns with previous market reactions, and a decisive breakdown below it could invalidate the bullish scenario temporarily, opening the path toward the stronger demand area between 4,100 and 4,000. This region is marked as a daily Order Block on the chart and could attract fresh liquidity and stronger buying interest.
Recent candlestick behavior also shows that sellers have been active between 4,680 and 4,720, repeatedly preventing price from advancing. Therefore, a strong breakout above this short-term resistance is necessary to confirm continuation to the upside. If this zone is cleared, the first target would likely be the top of the current range, followed by the Daily FVG area. On the other hand, failure to break higher and a sustained move below 4,620 could increase selling pressure toward 4,505.
Overall, gold is currently at an important decision point. Holding the current support could activate a rebound scenario toward 4,900, while losing the 4,505 level would raise the probability of a deeper correction. Traders should remain patient and wait for candlestick confirmation while managing risk carefully, as the market appears close to its next directional move.
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