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1️⃣ Trend Line
Key Trend: Strongly Bullish
The price is moving within a sharp ascending channel (blue channel).
The structure of higher highs and higher lows (higher highs – higher lows) remains clear and maintained.
The recent rise was an accelerating bullish breakout, suggesting buyers are in control.
👉 Price is currently in the upper half of the channel, which means the market is strong but a short-term technical correction is possible.
2️⃣Resistance
🔵5,700 – 5,702:
Strong resistance zone (channel top + upper supply zone).
When the price reaches this area, expect profit-taking and severe volatility.
📌Continuous rising scenario:
A clear breakout and close above 5,700 is needed to confirm the continuation of the upward price trend.
3️⃣ Support
🟢 5,500 – 5,502：
The most recent area of support, which was the consolidation area before the last advance.
If this level remains unchanged → the short-term uptrend remains strong.
🟢 5,448 – 5,450：
Strong support (retracement bottom + lower boundary of consolidation zone).
If the correction deepens, this area could see strong buying momentum.
4️⃣ Quick summary
The overall trend remains upward.
Price is approaching a potential volatile zone → It is better to wait for a pullback to support the purchase rather than chasing gains at the highs.
A break above the 5,445 level would be the first clear sign of weakness in the current bullish wave.
trading plan
Buy gold: 5,500 – 5,502
Stop Loss: 5,510
Take Profit: 100 – 300 – 500 pips
Buy gold: 5,448 – 5,450
Stop Loss: 5,440
Take Profit: 100 – 300 – 500 pips
