Gold Analysis – 29.Apr.2026

Gold Analysis: By analyzing the #Gold chart on the 4H timeframe, we can see that price dropped into the $4500 – $4520 demand zone, printing a low around $4510, before reacting with a short-term bounce toward $4547. Currently, Gold is trading around the $4542 region, showing a weak recovery after the heavy sell-off.

From a structural perspective, the market remains bearish, and this bounce looks more like a corrective move rather than a reversal. The nearest demand zone is $4500 – $4520, with deeper support sitting around $4450 – $4480. On the upside, the closest supply zones are $4560 – $4590, followed by a stronger resistance cluster between $4620 – $4660.

In my view, if price pushes slightly higher into these supply zones, it could offer a better sell setup. After this initial bounce, the market is likely to resume its bearish move. The next downside targets are $4500, followed by $4480, then $4450, and potentially lower if selling pressure continues.

For a short-term bullish scenario, if buyers manage to hold above $4520 and build momentum, we could see a push toward $4560 and $4590, but this is likely to remain temporary unless structure shifts.

Bottom line: this looks like a pullback before continuation lower, not a true reversal.
(This Post on TradingView)

Author : Arman Shaban

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