Hello everyone, after a strong rally to new highs, gold (XAU/USD) is entering a necessary corrective phase before deciding its next direction. On the H1 timeframe, price is temporarily consolidating around $4,090 – a key support area where buyers are beginning to show signs of defence.
From a technical perspective, the overall bullish structure remains intact as price continues to form liquidity zones followed by FVG fills. The $4,090–$4,080 zone still acts as the short-term defensive line for buyers. If this area holds, gold may rebound to retest $4,120–$4,130 – a region where selling pressure previously intensified. Ichimoku Cloud remains below price and has yet to signal a bearish reversal, indicating that this move is still a correction rather than distribution.
On the news side, gold continues to receive medium-term support from expectations of a Fed rate cut in December, a cooling US dollar, declining bond yields and lingering geopolitical risks. While US–China trade dialogue may offer temporary signs of easing tension, institutional capital still favours defensive positioning, keeping gold within its broader uptrend.
In the short term, I prioritise the scenario of gold extending its correction to gather liquidity around $4,080–$4,090 before potentially resuming its upside. Only a decisive break below this zone with strong bearish momentum would expose the psychological level at $4,000.
What do you think about gold’s current trend – is this just a healthy pullback or an early warning of a deeper decline?
From a technical perspective, the overall bullish structure remains intact as price continues to form liquidity zones followed by FVG fills. The $4,090–$4,080 zone still acts as the short-term defensive line for buyers. If this area holds, gold may rebound to retest $4,120–$4,130 – a region where selling pressure previously intensified. Ichimoku Cloud remains below price and has yet to signal a bearish reversal, indicating that this move is still a correction rather than distribution.
On the news side, gold continues to receive medium-term support from expectations of a Fed rate cut in December, a cooling US dollar, declining bond yields and lingering geopolitical risks. While US–China trade dialogue may offer temporary signs of easing tension, institutional capital still favours defensive positioning, keeping gold within its broader uptrend.
In the short term, I prioritise the scenario of gold extending its correction to gather liquidity around $4,080–$4,090 before potentially resuming its upside. Only a decisive break below this zone with strong bearish momentum would expose the psychological level at $4,000.
What do you think about gold’s current trend – is this just a healthy pullback or an early warning of a deeper decline?
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