Gold continues to respect a well-defined ascending channel, and the latest rally is still driven by buyers. The most recent candles show price advancing with momentum, then pausing above the prior breakout area rather than falling back into the old range.
That pause matters. It suggests the market is absorbing profit-taking without damaging the bullish structure. As long as buyers keep defending the highlighted support zone, each controlled dip can become an opportunity for the trend to rebuild before the next push.
The key confirmation is simple: price should remain above the breakout area and continue forming higher lows. A sustained hold there would keep the bullish path open toward the upper boundary of the channel.
My next upside focus is 4,800.
If price loses the support zone and begins closing back below it, the bullish momentum would need to be reassessed. Until then, the structure remains in buyers’ favour.
This is a personal market view, not financial advice. Always wait for confirmation and manage your risk carefully.
That pause matters. It suggests the market is absorbing profit-taking without damaging the bullish structure. As long as buyers keep defending the highlighted support zone, each controlled dip can become an opportunity for the trend to rebuild before the next push.
The key confirmation is simple: price should remain above the breakout area and continue forming higher lows. A sustained hold there would keep the bullish path open toward the upper boundary of the channel.
My next upside focus is 4,800.
If price loses the support zone and begins closing back below it, the bullish momentum would need to be reassessed. Until then, the structure remains in buyers’ favour.
This is a personal market view, not financial advice. Always wait for confirmation and manage your risk carefully.
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🚀 SMART CRYPTO TRADING STARTS HERE!
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🔥 TRADE SMARTER. STAY AHEAD.
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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.