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1️⃣ Trend Line
The downtrend line (lower highs) acts as dynamic resistance.
Price continues to reject as it hits this line → the structure still favors moving sideways amid minor downward pressure.
A short-term bullish reversal is only confirmed when there is a clear breakout and a strong candle closes above the trend line.
2️⃣ Resistance: 5,250 – 5,252
Strong supply areas have previously triggered multiple price reactions.
If a decisive breakout occurs → the likelihood of expansion to higher levels increases.
However, if the rejection continues → the price may continue to move within a triangle/tight range.
3️⃣ Support: 5,122 – 5,124
Significant demand area + coincides with the long-term uptrend line (dashed line).
Keeping this area → means that the assembly structure remains unchanged.
A break above support → confirms an exit from the sideways structure and increases the risk of deeper downside.
📌 Trading Plan
Buy gold: 5,122 – 5,124
Stop Loss: 5,112
Take Profit: 100 – 300 – 500 pips
Sell gold: 5,250 – 5,252
Stop Loss: 5,262
Take Profit: 100 – 300 – 500 pips
