Gold Extends Its Bullish Structure as Price Consolidates Near 4,730

Market Overview

Gold continues to trade near record levels, maintaining a strong bullish structure after an aggressive impulsive move higher. Price is currently consolidating just below the 4,740 area, reflecting a healthy pause rather than a sign of weakness, as the market digests recent gains.

The broader trend remains decisively bullish, supported by higher highs, higher lows, and sustained price acceptance above key structural levels.

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Technical Structure Analysis

From a technical perspective, gold remains firmly within an ascending trend, supported by a rising trendline that has guided price action since early January.

After breaking above the previous resistance near 4,540, gold accelerated higher, confirming a strong bullish continuation phase. The recent consolidation is forming above prior breakout zones, which reinforces the bullish market structure.

Key technical observations:

• Price remains well above the ascending trendline

• No bearish market structure shift has been confirmed

• Consolidation is occurring at elevated levels, signaling strength rather than distribution

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Liquidity & Key Price Zones

Current price action suggests the market is engaging in short-term liquidity management before the next directional move.

Key levels to monitor:

• Immediate Resistance:
  4,740 – 4,760
  A clean break and close above this zone could open the door for further upside expansion.

• Near-Term Support (Internal Liquidity):
  4,680 – 4,650
  This zone represents a potential demand area where price may rebalance before continuation.

• Major Structural Support:
  4,540
  A former resistance level that now acts as a critical bullish defense zone.

As long as price holds above these support areas, the bullish bias remains intact.

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Market Scenarios

Primary Scenario – Bullish Continuation

If gold maintains acceptance above the 4,680–4,650 support zone and successfully clears the 4,740 resistance, the market may resume its impulsive move higher, targeting new liquidity zones above recent highs.

Alternative Scenario – Corrective Pullback

A deeper corrective move toward the 4,600–4,540 area would still be considered technically healthy, as long as price remains above the ascending trendline and no lower low is formed on the 4H timeframe.

Such a pullback could offer better risk-adjusted opportunities within the dominant uptrend.

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Macro Context

Gold’s strength continues to be supported by:

• Persistent macroeconomic uncertainty

• Shifting interest rate expectations

• Strong demand for defensive and inflation-hedging assets

With markets remaining highly sensitive to upcoming macroeconomic events and central bank signals, volatility is expected to remain elevated, reinforcing gold’s appeal.

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Conclusion

Gold remains structurally bullish, trading near historic highs while respecting key technical levels. The current consolidation phase appears constructive, suggesting preparation for the next directional move rather than trend exhaustion.

As long as price holds above major support levels, the broader outlook for gold remains positive, with pullbacks viewed as corrective rather than trend-reversing.

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Motasm Adel
Market Researcher & Analyst | OneRoyal

Risk Disclaimer:
This information is for educational purposes only and does not constitute investment advice. Financial markets involve risks, and past performance is not indicative of future results. Always conduct your own research and seek professional advice before making investment decisions.