Gold Trading Inside Channel – Key Support & Resistance Levels!

yesterday

Hello Traders!
Gold is currently moving inside a well-defined ascending channel on the 30-min chart. Both buyers and sellers are respecting the levels of this channel, giving us clear trading opportunities.

Key Observations

• Price has tested the upper channel resistance multiple times, facing rejection near $3,710–$3,720.
  
  
• The lower channel support around $3,650 has been well respected, creating strong buying reactions.
  
  
• A minor resistance trendline is now forming, which could temporarily limit upside momentum.
  
  
• Short-term path suggests: rejection from minor resistance → retest of channel bottom → potential bounce back toward the upper channel.
  

Trading Plan

• Bullish bias remains intact as long as Gold holds above $3,650 channel support.
  
  
• A bounce from support may target $3,710–$3,720 zone again.
  
  
• If support breaks, deeper correction may follow.
  

Rahul’s Tip
Always wait for confirmation near channel edges. Trading inside the channel can be tricky, but respecting support and resistance gives you high-probability setups.

Disclaimer: This analysis is for educational purposes only and should not be taken as financial advice. Please do your own research or consult your financial advisor before investing.

Analysis By TraderRahulPal (TradingView Moderator) | More analysis & educational content on my profile
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3 hours ago

Trade active

Gold is Trading near to support zone, going long is a good strategy here!