GOLD – Bullish setup Support Retest Within Ascending Channel

Aug 11

Gold is trading within an established ascending channel, with the latest pullback testing both horizontal and trendline support around $3,345.

Technical Analysis
Price has been respecting the ascending channel since late July, with multiple touches on both support and resistance.
The recent decline from $3,405 tested $3,345 support and the lower channel boundary.
Buyers have shown signs of defending this area, aligning with potential bullish continuation.

Bullish Outlook Above $3,345 support:
First target: $3,381 POI
Second target: $3,405 resistance zone
Extended target: $3,434 POI

Key Levels
POINTS: $3,381 / $3,434
Resistance: $3,405
Support: $3,345 / $3,344 (trendline confluence)
Bias: Bullish while above $3,345

Conclusion: As long as Gold holds the $3,345 support and channel structure, the bias remains toward a retest of $3,381–$3,405, with scope for an extension to $3,434.

Aug 12

Trade active