Saad Ullah
⬤ Gold is still comfortably trading inside a well-defined ascending channel, and the bullish structure remains intact despite a recent rejection near the top of the range. Price briefly tested upper resistance before pulling back — but crucially, it never broke below channel support. That's not weakness, that's the trend holding its ground.
⬤ The chart shows a steady multi-month climb built on higher highs and higher lows — a textbook bullish continuation pattern. When sellers stepped in near the upper boundary, the retracement was shallow and orderly. Price stayed above the lower trendline throughout, which signals that buyers are still engaged, not retreating. For deeper context, see Gold price stabilization signals.
⬤ The pullback looks corrective, not structural. With price already trading back above the channel midpoint, buyers are clearly still in control. History shows that sustained channel structures like this often build momentum before pushing toward the next resistance level. Previous analysis covers this pattern in detail: Gold price prediction and support defense.
⬤ The XAU uptrend hasn't been invalidated. As long as price holds inside the rising channel, the directional bias stays bullish. A confirmed breakdown below channel support would change the picture — but right now, the market is behaving like a trend in continuation, not reversal.
Saad Ullah
