The current market trend is very clear: the bulls are still propping up and providing support, continuously holding the low support and raising the lows. However, the pressure in the 4740–4760 area is extremely critical, and it’s difficult to break through it easily in one go.

This zone is the core battleground for the bulls and bears, and it’s also an area where short-term profits are easily made. Once the upward momentum can’t keep up, the longs who chase higher prices are likely to get trapped and fall into a passive position.

Two market scenarios

**Bullish outlook**
If the gold price retraces and holds steady within the 4660–4680 support zone, the bulls will regain strength and resume the push higher. In that case, the price has a chance to break through the overhead resistance and continue targeting 4740–4760.
As long as there is a breakout with effective volume, it will most likely be followed by a wave of strong bullish movement.

**Adjustment outlook**
If the gold price rallies into 4740–4760 and then faces resistance, falling back or failing to break through, the price will most likely pull back first. It will retest the 4660–4680 support level to absorb selling pressure, flush out short-term excess positions, and then choose a new direction.

At this stage, the market is still waiting in anticipation for direction to be confirmed. Instead of chasing and selling impulsively based on emotion, it’s better to wait patiently until the signals become clear—so the trade setup will be more reliable.

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