Gold continues to move inside a well-defined ascending channel, with price currently testing the upper boundary near 4145 – 4150. The bullish momentum has remained consistent since the recent rebound from the midline support zone around 3980 – 4000, supported by higher highs and higher lows across the 1H timeframe.
Technical Outlook
Trend: Strong bullish momentum within ascending channel
Support zone: 4090 – 4085
Resistance zone: 4215 – 4220
EMA confluence: 20 EMA remains below price action, acting as dynamic support
RSI: Approaching overbought levels (>70), signaling potential short-term exhaustion
Trading Strategy
If the price sustains above 4140, short-term buyers may aim for 4215 – 4220 as the next resistance target. However, failure to break cleanly above 4150 could trigger a corrective pullback toward 4090 – 4100, where fresh buy setups may appear along the lower channel line.
Buy Zone: 4090 – 4100
Stop Loss: 4080
Take Profit: 4215 – 4220 (partial), open above breakout
Market Sentiment
The bullish structure remains intact as long as gold trades within the channel. Traders should watch for a breakout above 4220 for confirmation of continued upside, or a channel breakdown below 4080 to confirm short-term reversal pressure.
Gold remains fundamentally supported by inflation expectations and global risk aversion, keeping the medium-term bias bullish.
Note: Monitor price reaction around 4150 — a decisive breakout could extend momentum sharply, while rejection may trigger temporary consolidation.
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