XAUUSD H4 | Can buyers reclaim 4109.11?GoldCAPITALCOM:XAUUSDSergiu_SmartMoney📊 Market Structure Gold continues to recover after the strong reaction from the 4000.97 Reaction Level, where buyers defended a major demand zone and shifted the short-term market structure. A bullish CHoCH has already formed, while EMA 5 has crossed above the EMA 9, confirming improving momentum. RSI has also recovered above the 50 level, supporting the current bullish move. However, the broader trend remains cautious. Price is still trading below the EMA 200, meaning buyers still need a higher-timeframe confirmation before the trend can be considered fully bullish. 🌍 Fundamental Context Gold continues to react to expectations around monetary policy, the US Dollar, Treasury yields, and ongoing geopolitical uncertainty. Rather than trying to predict the next macroeconomic or geopolitical event, I prefer to let market structure and price confirmation lead the decision. 🎯 Key Reaction Level – 4109.11 This remains the most important resistance on the chart. 📈 Bullish Scenario 🟢 A confirmed H4 close above 4109.11, supported by EMA 5 remaining above the EMA 9, would strengthen the bullish recovery and shift the focus toward: ✅ 4177.09 A successful break above this area could open the path toward the next major Reaction Level around 4217.25. 📉 Bearish Scenario 🔴 If buyers fail to reclaim 4109.11 and price loses the current bullish structure, sellers could regain control. The first downside focus returns toward: ✅ 4000.97 A break below this level would increase the probability of revisiting 3892.84. ⚠️ What would invalidate this analysis? A sustained H4 close above 4109.11, followed by higher highs and higher lows, would significantly weaken the current bearish higher-timeframe outlook.