(Gold) 1H – Bullish Continuation After Support Rejection
Market Overview
On the 1-hour timeframe, Gold is maintaining a short-term bullish structure following a strong impulsive rally from the 4,990–5,000 region toward the 5,240 highs. The market recently pulled back into a clearly defined support zone (5,080–5,110), where buyers stepped in aggressively.
The rejection from this demand area confirms that the broader bullish momentum remains intact.
Key Technical Structure
1. Impulsive Leg
Strong bullish expansion from ~4,995 to ~5,240.
Momentum-driven breakout, indicating institutional participation.
Higher highs and higher lows established.
2. Pullback into Support
Price retraced into the marked support zone.
Clear V-shaped rejection from support.
Structure remains bullish as long as this zone holds.
3. Resistance Zone
Immediate resistance: 5,220–5,240.
This area previously acted as supply.
A clean breakout above 5,240 would likely trigger continuation buying.
Trade Scenario (Based on Chart Structure)
Entry Zone: After confirmation of bullish reaction above 5,150–5,170
Stop Loss: Below 5,080 (under support zone)
Target 1: 5,220
Target 2: 5,240
Extended Target: 5,260+ if breakout occurs
Risk-to-reward profile remains favorable while price stays above the demand area.
Bullish Confirmation Signals
Higher low formation on lower timeframes
Strong bullish candles near resistance
Break and close above 5,240
Invalidation Scenario
If price breaks and closes below 5,080, the bullish structure weakens and deeper retracement toward 5,030–5,000 becomes likely.
Conclusion
Gold remains structurally bullish on H1. The support zone reaction suggests continuation toward the 5,220–5,240 resistance band. A breakout above this level could open the path for fresh highs.
Long
