Saad Ullah
⬤ Gold prices are moving within a well-defined bullish channel, with XAU/USD holding above important structural support after breaking through resistance earlier in the trend. The overall market structure looks healthy, suggesting this latest pullback is just a normal correction rather than anything more serious. On the four-hour chart, gold has stabilized after touching the 4,600 level, keeping the bullish setup intact.
⬤ Right now, the focus is on the intraday support zone around 4,590–4,580, which the chart highlights as an active demand area. There's already been a liquidity sweep below recent lows, but that was quickly met with fresh buying interest—showing sellers couldn't push things lower. This kind of response tells us buyers are stepping in to protect the lower edge of the bullish channel and staying in control as long as price holds above that support line.
⬤ Technically, the bullish channel is still guiding where price goes next. The chart points to a potential buy zone between 4,585 and 4,575, lining up with previous structure and demand. As long as XAU/USD stays above this area, the upside case stays alive, with resistance showing up near 4,635, then higher targets around 4,680 and 4,750 if momentum picks back up. It would take a clear break below the channel and the 4,555 level to actually break the current bullish picture.
⬤ This setup matters for gold traders because it shows price taking a breather after a strong move up without losing its trend. Consolidation inside a rising channel usually means the market is finding balance after aggressive buying, giving momentum time to reset. With XAU/USD still above key support, the near-term outlook remains positive, and the channel plus demand zones give us a clear framework to watch whether bulls keep control or start losing their grip.
Saad Ullah
