Gold, Technical Analysis – H4

Bulls maintain a formed reversal structure on the higher timeframes, but bears continue to exert steady pressure. The critical support for buyers is now the area of the latest low near $4,020. A decisive break below this level would invalidate the prior bullish efforts and open the way toward prices starting with a 3.

Key Levels:

□ $4,020 — immediate and critical support (last low)

□ $4,000 — psychological level

□ $4,050–4,060 — nearest resistance zone

Primary Scenario:

Decline toward the $4,020 support area followed by a sharp rebound higher.

Alternative Scenario:

Breakdown below $4,020 and continuation lower toward the psychological $4,000 mark.

Analyst Commentary:

Although the $4,020 zone offers a technically attractive buying opportunity, it is prudent to wait for additional confirming signals. Selling pressure remains significant, and a clear breakdown could quickly accelerate the downside move.