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Based on the current structure of the 4-hour and 1-hour charts, gold remains bearish on the 4-hour timeframe, although selling momentum has started to weaken. Meanwhile, on the 1-hour chart, price is currently consolidating after rebounding from lower levels.
On the 4-hour chart, price has moved back above the MA5 and MA10, but it is still being capped by the MA20 and the Bollinger Band midline around 4294. Therefore, the current move should still be viewed as a technical rebound rather than a confirmed trend reversal. The 4240–4250 area remains an important support zone.
On the 1-hour chart, price is fluctuating around the MA5, MA10, and MA20, indicating a short-term tug-of-war between buyers and sellers. Price previously rebounded from around 4244 to 4309 before pulling back, confirming notable selling pressure in the 4300–4310 area.
If gold can reclaim and hold above 4304–4310 on the 1-hour chart, the short-term rebound may continue. The first upside target is 4333, followed by 4350–4363. A sustained break above 4333 on the 4-hour chart would be needed to confirm a more meaningful bullish shift.
On the other hand, if price falls below 4274, the short-term structure would weaken. The next support levels to watch would be 4260, 4254, and 4244. If the 4-hour chart also breaks below the 4240–4244 area, the current rebound would likely be considered over, and bearish pressure could extend toward 4215.
The key trading range at the moment is 4274–4304. Until price clearly breaks out of this range, gold is likely to remain volatile and trade sideways. Therefore, it is better to avoid chasing price movements in the middle of the range.
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