Gold (XAU/USD) trading within an ascending channel on the 4-hour timeframe. Price action remains bullish as it continues to respect the channel boundaries. Currently, gold is priced around $3,319, showing a strong recovery after dipping towards the lower boundary of the channel (highlighted as the “BUY ZONE”).
The forecast suggests a minor retracement towards the buy zone, followed by a bullish move targeting around $3,600. This projection aligns with the overall upward momentum indicated by the rising channel.
Key Points:
Trend: Bullish (within ascending channel)
Current Price: ~$3,319
Buy Zone: Near the lower channel boundary (~$3,250–$3,280 range)
Target: $3,600
Outlook: A potential pullback before a continuation higher toward the top of the channel.
Risk management and close monitoring are advised, especially if price breaks below the channel structure.