1. Market Structure — Bullish
Gold maintains a short-term bullish structure, supported by Higher Lows and an ascending trendline from 4,065–4,070. After rejection at 4,215–4,220, price pulled back toward 4,177 to retest support.
2. Key Support & Resistance
Resistance: 4,215–4,220; breakout target 4,225–4,230.
Support: 4,168–4,173 (trendline confluence); 4,135–4,145; 4,105–4,110; 4,065–4,070 (major demand).
3. Trading Scenarios
Bullish: Holding 4,168–4,173 with confirmation could push price toward 4,190 → 4,200 → 4,220. A breakout above 4,220 opens 4,225–4,230.
Bearish: A break below 4,168 and the ascending trendline could trigger a decline toward 4,145 → 4,110 → 4,065–4,070.
Bias: Bullish while 4,168–4,173 and the ascending trendline hold.
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The market is primarily consolidating and moving sideways, attempting to break above the key 4,200 resistance level while awaiting this week's CPI and PPI data.
BUY GOLD zone : 4174 - 4171
SL : 4166
TP : 4188 - 4200 - 4217
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