Gold is currently trading inside a rising channel, maintaining a clear structure of higher highs and higher lows. After the recent move, price is now pulling back toward a key intraday support zone.
This area becomes important because it aligns with the channel support, making it a potential reaction zone for buyers. If this support holds, we can expect a continuation move toward the upside, targeting the upper channel region.
However, if price fails to hold this level and breaks below, the structure weakens and downside continuation becomes more likely. In that case, the next liquidity zones and major support levels below will come into play.
The idea here is simple, let the market react at this level and then follow the confirmation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage your risk properly before entering any trade.
Analysis By TraderRahulPal | More analysis & educational content on my profile.
This area becomes important because it aligns with the channel support, making it a potential reaction zone for buyers. If this support holds, we can expect a continuation move toward the upside, targeting the upper channel region.
However, if price fails to hold this level and breaks below, the structure weakens and downside continuation becomes more likely. In that case, the next liquidity zones and major support levels below will come into play.
The idea here is simple, let the market react at this level and then follow the confirmation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage your risk properly before entering any trade.
Analysis By TraderRahulPal | More analysis & educational content on my profile.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Learn PROFITABLE STRATEGIES THAT WORK IN EVERY MARKET
WhatsApp to get started
Contact me: wa.me/919560602464
Join Free Telegram: tinyurl.com/5n7xsehh
SCA Registered Analyst→Dubai
WhatsApp to get started
Contact me: wa.me/919560602464
Join Free Telegram: tinyurl.com/5n7xsehh
SCA Registered Analyst→Dubai
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.