Gold Analysis- Bullish Bias Holds as Price Defends Key Demand Micro Gold FuturesCOMEX_MINI:MGC1!rayelthedonSummary Gold is displaying a bullish bias in the short term while currently trading within a corrective phase following a strong impulsive rally. Price has stabilized around the $4,517 level after finding solid support in the demand area, suggesting that the broader uptrend remains intact as long as buyers continue defending these lower levels. Market Structure The chart is showing a classic impulse followed by correction pattern. After a powerful bullish move higher, price has entered a multi-day pullback and consolidation phase. During this correction, gold has maintained higher lows and is now demonstrating absorption near the demand zone, which supports the case for eventual continuation to the upside. Supply A significant supply zone sits between $4,578 and $4,593. This area previously acted as strong resistance where sellers stepped in aggressively. Any rally toward this zone is likely to encounter notable selling pressure, making it a key area to watch for potential short-term reversals or pauses in the uptrend. Demand Gold is currently trading within the primary demand zone located between $4,501 and $4,509, with a secondary demand zone visible lower at $4,469 to $4,487. These green zones represent strong buying interest from market participants, and the current defense of the upper demand area is a positive sign for bulls. 1H Fair Value Gap A clear 1H fair value gap is present around the $4,509 to $4,526 region. This imbalance has been acting as a magnet for price action and is currently providing support. Fair value gaps like this often get filled or revisited before strong directional moves, and this one is playing an important role in maintaining the current market structure. Key Levels to Watch In the bullish scenario, holding above $4,500 should push price toward the supply zone at $4,580–$4,590. However, a clean break and close below $4,490 would invalidate the short-term bullish view and open the door to the lower demand area. If price breaks through the extreme demand zone then my bias is invalidated. Thank you for reading! Follow for more technical analysis, key levels, and trade setups. 🚀