Gold Holds Support, Accumulation ?

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Gold Holds Support, Accumulation ? GOLD (US$/OZ)TVC:GOLDThe_Alchemist_Trader_Gold continues to maintain its position above the key support level at 3,977, keeping the broader bullish outlook intact. Price action has developed what appears to be a re-accumulation base, a structure that often forms before the next leg higher within an established uptrend. As long as buyers continue defending this support, the technical picture favours a continuation toward the higher timeframe target around 4,562. The current range also contains an important area of technical confluence where the 0.618 Fibonacci retracement aligns with the Point of Control (POC). This combination highlights a region where price may revisit before resuming its upward trend. A retest of this zone would be considered technically healthy, allowing the market to confirm demand before attempting another breakout higher. Holding above 3,977 remains the most important factor for the bullish scenario. A successful defence of this level would reinforce the re-accumulation structure and increase confidence that buyers remain in control. If the confluence region attracts fresh demand following any short-term pullback, the probability of a rally toward 4,562 increases significantly. Until support is lost, the overall market structure continues to favour higher prices, with temporary retracements likely serving as opportunities for the trend to reset before the next move higher.