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On the H4 timeframe, XAUUSD is shifting from a bullish trend to a neutral–bearish phase after breaking below the EMA50 and EMA100. RSI remains below 50, indicating weakening momentum without entering oversold conditions. Currently, price is ranging between 4,650 and 4,750, with 4,650 acting as key support and 4,730–4,750 as the nearest supply zone. In the short term, gold is expected to consolidate within this range. A breakout will be critical in confirming the market’s next directional move.
On the H4 timeframe, the technical structure of XAUUSD is clearly showing signs of weakness following a distribution phase at the top. After forming a peak around 4,880-4,900, price failed to sustain its bullish momentum and quickly reversed, breaking below both the EMA50 and EMA100. This confirms a shift in market structure from bullish to neutral-bearish in the short term. At the same time, the H4 RSI is hovering around the 44-45 level, below the neutral 50 mark, indicating weakening momentum without yet entering oversold territory.
The H4 structure of gold is showing clear signs of weakness as price breaks below the EMA cluster and fails to sustain its previous uptrend. However, the lack of a decisive breakdown and the current sideways movement suggest the market is absorbing supply rather than entering a strong downtrend.
Currently, XAUUSD is forming a sideways range between 4,650 and 4,750. The 4,650 level is acting as a key short-term support, with repeated buying interest and price reactions emerging from this zone. Meanwhile, the 4,730-4,750 area represents the nearest supply zone, aligning with the EMA cluster and previous rebound attempts, where price has consistently faced rejection.
In the short term, the primary technical scenario remains consolidation within the 4,650-4,750 range. A breakdown below 4,650 would reinforce the bearish structure and potentially extend the decline toward deeper support levels around 4,610-4,590. On the other hand, if price manages to reclaim the 4,750 level and hold above the EMAs, the market could enter a re-accumulation phase, with the potential to retest higher resistance zones around 4,800 and further toward 4,840.
28.04.2026
Gold (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.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
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This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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