Gold uptrend channel — Continuation or pullback?

Gold is trading around 4,810 – 4,830 on M30 after a strong rally driven by weaker USD (post-PPI) and ongoing geopolitical uncertainty.

🌍 Market Context

• US PPI came softer → USD weakens → supports gold
• Oil pulling back on peace expectations → easing inflation pressure
• Safe-haven demand still present as US–Iran tension remains unresolved

→ Mixed macro, but gold still holding bullish structure

📊 Technical Overview (M30)

Price is moving inside a rising channel, showing controlled bullish momentum.

Currently:
• Rejecting near short-term highs
• Potential pullback into demand / retest zone

📌 Key Levels

🟢 Support: 4,790
🟢 Deeper Demand: 4,754

🔴 Resistance: 4,850+
🎯 Upside Target: 4,894

⚡ Scenarios

Bullish:
If price holds above 4,790
→ continuation toward 4,850 → 4,894

Bearish (pullback first):
If price loses 4,790
→ sweep toward 4,754 before continuation

🧠 Market Insight

Trend is still bullish, but current structure suggests
👉 pullback → continuation, not straight breakout