Gold Technical Analysis (4H Chart)
Gold’s broader trend remains bullish; however, on the 4-hour timeframe, price action is developing within a descending triangle pattern, indicating potential short-term consolidation or corrective pressure.
Prices are currently holding above the pivot level at 4906 and attempting to test the upper trendline of the formation. A temporary pullback from this region remains possible.
A decisive break below the immediate support at 4850 (S1) could accelerate short-term bearish momentum, potentially exposing S2 at 4670.
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