Gold Price Holds Steady Amid Resistance and Support

The gold price has been on a steady rally since hitting 4,000 support levels. However, resistance was encountered around 4,500, just below the prior weekly volume point of control (VPOC). A bearish outside day engulfed Tuesday's small doji and Wednesday's small bullish candle, but so far, support has held around 4,400.

This area is close to the weekly VPOC at 4,404. If bears manage to break beneath this level, they may target the 200-day EMA near 4,300, along with the lower end of the recent trading range. Alternatively, if bears take full control, the next potential target could be around 4,200, near the recent range lows.