Alex Bobrov
⬤ Gold is trading in a strong bullish pattern on the 4-hour XAU/USD chart, staying above its key trend support after a sharp rally. Price is consolidating around 5,080 following the recent surge. The primary direction stays bullish, with traders watching for a short-term pullback before the next leg up.
⬤ A rising trendline has been supporting price action throughout this rally. After the breakout, gold built a solid support zone around 4,546, which now serves as an important floor. Price holding above this level confirms the uptrend is still alive, while the current pause near the highs looks more like a breather than a reversal.
⬤ The chart suggests a pullback toward 4,930 would be a normal correction within the bigger uptrend. That move would keep price above both the rising trendline and the key support zone, maintaining the bullish structure. After that dip, the next target sits at 5,200, which represents the next major resistance barrier.
⬤ This analysis matters because it shows how gold might balance a short-term correction with its longer-term uptrend. Staying above the established support keeps the bullish case intact, while a controlled pullback could reset momentum before another climb. How gold handles the 4,930 and 5,200 levels will likely shape near-term sentiment across the precious metals market.
Alex Bobrov
