Gold remains in a structurally strong uptrend on the 3-hour timeframe, respecting a rising price channel that has guided price action for several sessions. The recent rally has been sharp and directional, indicating strong underlying demand.
However, price is now approaching the upper boundary of this channel, a zone where momentum often pauses rather than immediately reverses.
Technical Observations
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Candlestick structure has shifted from expansion to compression
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Overlapping candles indicate digestion of recent gains
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No impulsive bearish structure has appeared so far
This behaviour is typical of a mature trend nearing short-term resistance.
Key Technical Levels
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5088 – 5100: Upper channel resistance / supply zone
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4967: Critical short-term support and trend pivot
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4755: Structural support; loss of this level would weaken the trend
Scenarios Ahead
Primary Scenario:
Price consolidates above 4967, allowing the trend to reset before attempting continuation.
Alternate Scenario:
A brief pullback toward 4967 followed by renewed buying interest and trend resumption.
Conclusion
Gold’s larger trend remains bullish. Traders and investors should avoid chasing price near resistance and instead focus on structure, support, and confirmation. This is a pause within strength, not weakness.
Disclaimer:
The information provided in this analysis is intended solely for educational and informational purposes. It reflects personal market observations and technical interpretations at the time of writing and should not be considered as financial, investment, or trading advice.
Financial markets are subject to risk, volatility, and uncertainty. Any decisions taken based on this content are at the sole discretion and responsibility of the reader. Past performance or historical price behaviour does not guarantee future results.
Readers are strongly advised to conduct their own independent research and, where appropriate, seek advice from a qualified financial professional before making any trading or investment decisions.
The author assumes no responsibility or liability for any losses incurred as a result of the use of this information.
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