XAUUSD Ascending Channel Setup Targeting 5,100 Resistance

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Gold remains in a short-term bullish structure, trading inside an ascending channel after a strong rebound from the 4,880–4,900 support zone.
🔎 Technical Overview:


Trend: Bullish (higher highs & higher lows)


Support Zone: 4,880 – 4,900


Entry Zone: Around 4,902


Stop Loss: Below 4,890


Target: 5,099 – 5,100 major resistance


Price is currently consolidating below the psychological 5,050–5,060 area. The structure suggests a potential continuation toward the 5,100 resistance if buyers maintain momentum.
📈 Bullish Scenario:


Holding above 4,900 keeps the structure intact.


Break and sustained move above 5,060 increases probability of reaching 5,099+.


Trendline support aligns with the demand zone, strengthening bullish bias.


⚠️ Bearish Risk:


A clean break below 4,890 would invalidate the bullish setup.


Could trigger a deeper pullback toward 4,850–4,820.


Overall bias remains bullish while price respects channel support and the 4,900 demand area.

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