Gold’s H4 Descending Channel Breakout Targets 4,350 and 4,480

By Daniel Okafor

Gold’s four-hour breakout sets targets at 4,350 and 4,480, while support at 4,030–4,055 determines whether the bullish setup holds, Meera_Charts said.

The TradingView chart under OANDA:XAUUSD places Gold near 4,129. Meera_Charts said buyers lifted price above the H4 50 EMA at 4,040, improving bullish momentum. Gold had spent several months inside the descending channel.

Buyers stepped in near the lower trendline and drove price higher. Price then retested former resistance, which Meera_Charts said now acts as support between 4,030 and 4,055. The short-term outlook favors buyers while price remains above that zone.

The support band sits below the 4,129 quote, while the first target sits above it. Both positions frame Meera_Charts’ near-term setup.

What does the four-hour breakout change?

The author’s core call was plain: “Gold has broken above a descending channel on the H4 chart.” Buyers pushed price above the 50 EMA. Price then retested former resistance.

“A successful H4 retest could confirm further upside,” Meera_Charts wrote. The author said buyers must defend the breakout zone to preserve the bullish setup. Strong bullish price action would provide further confirmation.

• Key support zone: 4,030–4,055.
• Bullish Target 1 (TP1): 4,350.
• Bullish Target 2 (TP2): 4,480.
• Key indicator: H4 50 EMA at 4,040.
• Chart pattern: Descending Channel Breakout.

The breakout works only if former resistance holds. Meera_Charts said a clear H4 close below 4,030 would weaken the setup and increase the risk of further losses. In Meera_Charts’ framework, that threshold matters more than the initial move above the channel.

The H4 close is the decisive test in Meera_Charts’ analysis. An intraday move below 4,030 without a clear H4 close would not meet the chart’s stated failure condition. The 4,030–4,055 band remains the immediate decision zone.

Can jobs and inflation derail the move?

US employment data came in stronger than expected, Meera_Charts said. October payrolls increased by 165,000, while unemployment remained at 4.1%. The report increased expectations of another Federal Reserve rate hike in December.

That rate path could strengthen the dollar and push Treasury yields higher. Meera_Charts said both developments could pressure Gold, creating tension with the chart’s breakout.

The next major scheduled event is the US October CPI report on November 10. Meera_Charts said the release could change expectations for the Fed’s December decision. Hotter inflation could support the dollar and yields. Softer inflation could weaken both and give Gold more room to rise.

Meera_Charts also said comments from Fed officials that week could influence market sentiment. That commentary matters because employment has already tilted expectations toward higher rates.

What does investment demand add?

Meera_Charts cited the World Gold Council’s report that central banks added 321 tonnes to their reserves during Q3 2026. Gold ETFs also recorded strong demand. Meera_Charts said investors added 211 tonnes during Q3, followed by another US$2.7 billion in inflows during October.

Meera_Charts cited those flows as evidence that central banks and investors continue to demand Gold. Long-term investment demand therefore supports the recovery, although the same analysis identifies jobs, inflation and yields as near-term risks.

In Meera_Charts’ account, central-bank buying supports long-term demand, while ETF purchases during Q3 and October show more recent investor buying. Both demand channels offset the technical breakout’s dependence on support holding.

What should traders watch next?

Meera_Charts’ framework puts 4,030–4,055 at the center of the trade. A defended H4 retest would support a move toward 4,350 and 4,480. A clear four-hour close below 4,030 would weaken the breakout and expose Gold to further losses.

The author labels the analysis educational and not financial advice. Meera_Charts says Gold trading involves risk and advises waiting for confirmation while managing risk with appropriate stop-loss orders.

Gold’s next test comes at 4,030–4,055, with the November 10 CPI release supplying a major macro risk to the path toward 4,350 and 4,480.