The four-hour (H4) chart for Gold (GOLD) displays a strong, positive price movement. Currently trading at 4099.36, the asset has shown a notable upward surge after establishing a solid base at lower levels, breaking free from previous downward pressure, and moving within active bullish channels.

Technical Analysis and Price Action

Price Channel Structure: The price is moving within a primary bullish channel (in blue), which intersects and overlaps with a steeper, secondary bullish channel (in pink/red). It is worth noting that the price rebounded with remarkable strength from support zones near the lower boundary of the channel—specifically around the Weekly S1 level near 3916.04—forming a series of consecutive higher lows. The candlesticks indicate that buyers (bulls) are in control in the short term.

Interaction with Weekly Pivot Levels: The price successfully broke above the Weekly Pivot point at 4031.21 and has maintained its position above the median lines. This positive stability paves the way for further gains, with the next target being the first weekly resistance level (Weekly R1) at 4186.20.

Key Support and Resistance Levels

Major Resistance Levels:

First Resistance: 4116.55 – 4150.00 (Intraday upper resistance zones).

Second Resistance: 4186.20 (Weekly R1 resistance level). Pivot Resistance: 4301.37 (Weekly R2 - second weekly resistance level).

Key Support Levels:

First Support: 4031.21 (Weekly Pivot point, now acting as a strong technical support level).

Second Support: 3970.35 – 3999.25 (Midline of the ascending channel and zones for intraday rebounds).

Pivot Support: 3916.04 (Weekly S1 - first weekly support level and the lower boundary of the channel).

Price Action Outlook and Trading Recommendations:

Bullish Scenario (Primary):

A positive trajectory remains the most likely and robust outlook, provided the price continues to trade and stabilize above the weekly pivot point of 4031.21 and the boundaries of the ascending channel.

Recommendation: Consider buying on any calm, corrective pullback toward the 4050.00 – 4031.21 range, provided these levels hold firm against selling pressure.

Technical Targets: Aim for the 4116.00 area, with potential for further extension to test the first weekly resistance level at 4186.20.

Bearish Scenario (Alternative):

This scenario comes into play if sudden selling pressure emerges and the price fails to hold above the key support levels, shifting back into negative territory.

Confirmation Condition: A clear 4-hour candle close below the weekly pivot point of 4031.21. Technical Targets: A pullback toward support levels at 3999.25, followed by a move toward the first weekly support level at 3916.04.

Risk Management

Trading in gold markets requires strict adherence to capital management rules. Risk per trade should be capped at a maximum of 2%, and stop-loss orders must be precisely implemented to protect the portfolio against sudden price volatility.

Gold Price on the Daily Chart:

The price is currently trading at 4099.37, near the edges of a descending channel on the daily timeframe. It has staged a notable upward rebound from its recent low, successfully surpassing the monthly pivot point at 3989.91 and testing the first monthly resistance level (Monthly R1) at 4110.09.

Outlook for Future Movement:

Bullish Corrective Scenario (Most Likely): Continued attempts to break through and stabilize above the first monthly resistance level (Monthly R1) at 4110.09—as well as the upper boundary of the sub-channel—would pave the way for an extended upward correction, targeting the next resistance level at 4345.31 (Monthly R2).

Bearish Scenario (Alternative): This scenario would be triggered if selling pressure emerges near the current resistance zones, preventing a daily close above 4110.09. In this case, the price would likely pull back downward to retest the monthly pivot point at 3989.91.