The 4-hour chart of Gold (XAU/USD) shows that price remains firmly in a bullish market structure despite the recent consolidation near record highs. Following a clear break of structure (BOS) to the upside, gold delivered a strong impulsive move, confirming sustained buyer control. This rally left behind a bullish Fair Value Gap (FVG) in the 4,520–4,570 area, which now acts as a key demand zone and potential support on any corrective pullback. Price is currently trading above this imbalance and consolidating near 4,615, suggesting healthy digestion rather than distribution.
On the downside, the broader bullish structure is protected by a well-defined order block between approximately 4,270 and 4,335, which previously absorbed selling pressure and initiated the current leg higher. As long as price holds above the FVG and continues to form higher lows, the bullish bias remains intact, with continuation toward higher liquidity levels likely. However, a deeper retracement into the FVG would still be considered technically constructive, provided demand is respected and no structural breakdown occurs.
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