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Currently, gold has rebounded again, reaching around 4590.
The bullish trend remains intact within the channel.
Continue to monitor the important level of 4575; a break below 4575 targets 4550.
If the closing price is above 4575, there is still momentum and room for a further rebound above 4600 next week.
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GOLD UPDATE ---
Gold is currently trading in a consolidation-to-corrective phase after a sharp impulsive rally from the 4575 demand zone. The price action shows repeated rejection from the upper supply area, confirming that 4630 is acting as a strong resistance level, where price is failing to sustain or close above.
Despite bullish momentum earlier, the recent candles near 4630 indicate selling pressure, profit booking, and supply dominance, keeping the upside capped for now.
Market structure remains range-bound between 4575 and 4630.
Resistance Levels
4630 – Major Resistance (Supply Zone)
Strong selling pressure
4657 – Upper Resistance / Breakout Target
bullish close above 4630 occurs.
4680 – Extended Target.
Demand Zones -
4612 – Immediate Intraday Support
Trendline
4575 – Major Support (Demand Zone)
Strong base
4550 – Critical Breakdown Support.
Bullish only on a confirmed breakout and close above 4630.
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*𝙎𝘼𝙁𝙀 𝙏𝙍𝘼𝘿𝙀𝙍𝙎 𝘾𝘼𝙉 𝘽𝙊𝙊𝙆 𝙋𝙍𝙊𝙁𝙄𝙏 𝙄𝙉 𝙂𝙊𝙇𝘿 𝙉𝙀𝘼𝙍 4591-92 & 𝘾𝙇𝙊𝙎𝙀 𝙏𝙍𝘼𝘿𝙀*
