🔍 Market Insight
Gold continues to maintain its bullish structure as price holds above the 200-period SMA around $5,083 on the H4 chart. The market is still trading inside an ascending channel, suggesting the broader uptrend remains intact.
However, momentum is slightly cooling:
• MACD remains above zero but histogram is declining → bullish momentum slowing
• RSI is just below 50 → market lacks strong directional conviction
This indicates the market may enter short-term consolidation before the next move.

📉 Support Levels
• $5,116 – Channel floor & near 200-SMA support
• $5,080 – Next major downside support
A break below $5,116 could trigger a deeper pullback toward $5,080.

📈 Resistance Levels
• $5,200 – Immediate resistance
• $5,570 – Channel top / major bullish target
If gold breaks and holds above $5,200, the next upside target is $5,570.

⚡ Trading Outlook
✔ As long as price stays above $5,116, buyers remain in control.
✔ Buy the dips within the channel.
❗ Rejection near $5,200 may keep gold ranging short term.

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