Nataly Kambur
⬤ Gold is showing fresh strength on the 4-hour timeframe after a sharp drop, with buyers jumping back in at a well-defined support area. The price has rebounded nicely from the major support zone between $4,907.90 and $4,919.90, and the chart confirms that buying interest has picked up significantly at these levels.
⬤ The recovery has been pretty quick following the recent selloff, with gold now holding steady above that key support band. What's interesting is that price hasn't retested this support area after bouncing—suggesting demand is solid right now. This could mean we're in for further upside, though traders should wait for proper confirmation rather than jumping in too early.
⬤ If the bulls keep this momentum going, gold could push toward higher resistance levels. The upside targets to watch are $5,270.90, $5,370.90, and $5,470.90—all matching what the chart is showing as potential continuation points for this 4-hour bullish structure.
⬤ What we're seeing here is gold shifting from correction mode back into rally mode. Whether price can stay above that $4,907-$4,919 zone will be crucial for what happens next. Right now, bulls are in the driver's seat and selling pressure has backed off, making this support region the key level to watch for XAU/USD's next move.
Nataly Kambur
