Uptrend Retest PlayGold has continued to maintain a strong bullish structure on the 15-minute timeframe, creating a series of higher highs and higher lows while respecting the ascending trendline that has been guiding the current uptrend. After an initial impulsive move to the upside, price broke above a key intraday resistance level, confirming buyer strength and shifting that previous resistance into a fresh support zone.
Following the breakout, price is now pulling back toward a high-probability demand area where multiple technical factors converge. This zone aligns with:
1️⃣ The retest of the prior resistance, now acting as support.
2️⃣ The ascending trendline, which has been consistently defended by buyers.
3️⃣ A small liquidity sweep, as price has dipped below a minor intraday low to collect resting sell-side liquidity.
4️⃣ A fresh demand block, created by the last bullish candle before the recent impulsive breakout.
These elements together form a strong confluence area where buyers have historically been active, suggesting the market may be preparing for another bullish continuation leg. If price reacts positively within the blue entry zone and forms bullish confirmations (rejection wicks, displacement candles, or a break in micro-structure), the probability of continuation toward the marked upside target increases significantly.
Moreover, the broader trend remains intact, with no break of structure to the downside. As long as price continues to respect the support zone and the trendline, the bullish bias remains valid. This pullback should be viewed as a corrective move within a trending market rather than a reversal, and deeper retracements into the demand region may provide even higher-quality entries for traders waiting for confirmation.
Overall, current conditions favor bulls as long as support holds. A strong reaction from the entry zone could lead to renewed momentum and an attempt to push toward the next liquidity level and the projected target above.
