The 4-hour chart for Gold () shows bullish momentum remaining intact following a strong rebound from the $4,000 support zone. Prices have continued to form a series of higher highs and higher lows before approaching a key technical resistance area, which coincides with the descending moving average. This price action suggests that buyers have regained short-term control of the market. However, further upside will depend on a decisive breakout above this resistance zone, as failure to do so could trigger a wave of short-term profit-taking and a temporary pullback.
In my view, Gold (XAU/USD) is approaching a critical technical test near the $4,137 level, where horizontal resistance converges with the descending moving average, making it a decisive zone for the next directional move. A confirmed breakout and sustained close above this barrier would strengthen the bullish outlook, opening the door for a rally toward $4,257, with the potential to extend gains toward $4,360 if buying momentum continues to be supported by favorable macroeconomic and geopolitical fundamentals.
On the other hand, momentum indicators remain close to overbought territory, suggesting that short-term corrective pullbacks cannot be ruled out before the broader uptrend resumes.
From my perspective, the technical outlook remains constructive as long as Gold holds above the $4,063–4,080 support zone, which represents the first line of defense for buyers. Any pullback toward this area would likely be viewed as a healthy retest within the prevailing uptrend. However, a decisive break below this support could increase selling pressure and expose the psychological $4,000 level. Therefore, the most likely scenario remains further upside, although confirmation will require a strong breakout above the current resistance, ideally accompanied by higher trading volumes.
Support: 4,100 – 4,063 – 4,000 – 3,960
Resistance: 4,137 – 4,257 – 4,360
investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions. ” src=”https://media.investing.com/images/1a9a7feb5fa9ddf1c62e0288ae206ec4_20260722032346.jpg” alt=” 22.07.2026 – XAUUSD – Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform. Disclaimer: The chart reflects the analyst’s opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions. ” width=”474″ border=”0″/>