H4 Outlook (Mid-term Bias):

Gold is consolidating above the 4,600 level, indicating that buyers are still defending this key zone. If bullish momentum continues, price could stage a corrective rebound toward 4,704. However, a breakdown below support would expose the market to a deeper decline toward 4,430.

The MACD supports a recovery scenario — although still below zero, the upward slope of the signal line reflects building bullish momentum.

H1 Outlook (Short-term Structure):
On the lower timeframe, price has broken below 4,620, confirming short-term bearish pressure. The current move is likely to extend toward 4,580.

A temporary rebound toward 4,690 is possible (retest of the broken level), which may act as resistance. From there:
A pullback toward 4,625 could follow

Then a potential bullish continuation toward 4,741
The Stochastic oscillator reinforces the short-term downside bias, as it trends lower below the 50 level, approaching oversold territory

Final Bias

Short-term (H1): Bearish (sell pressure dominates)
Medium-term (H4): Bullish correction (buyers still active above 4,600)

Key Levels
Resistance: 4,690 → 4,704 → 4,741
Support: 4,580 → 4,430

Trading Insight
Below 4,690 → favor sell setups on pullbacks
Above 4,704 → shift to buy continuation setups