Gold remains in an overall bullish market structure, respecting a rising trendline that has supported price multiple times. The latest pullback has returned to this trendline and a key demand zone around 4,020–4,030, where buyers have stepped in previously.

The chart suggests that the recent decline is likely a correction rather than a complete trend reversal, provided the trendline remains intact.

Technical Outlook
Ascending Trendline: Price is once again testing the rising support, indicating buyers are defending higher lows.
Demand Zone: The blue support area around 4,020–4,030 has produced several bullish reactions and remains the key level to watch.
Ichimoku Cloud: Price is attempting to reclaim the cloud. A sustained move above it would strengthen bullish momentum.
Resistance Zone: Immediate resistance lies around 4,075–4,085, followed by the major supply zone near 4,110–4,115.
Bullish Scenario

A confirmed bounce from the trendline followed by a breakout above 4,055–4,060 would likely trigger fresh buying pressure.

Potential targets:

Target 1: 4,075–4,080
Target 2: 4,100
Target 3: 4,110–4,115
Bearish Scenario

If price closes decisively below the ascending trendline and the 4,020 demand zone, the bullish structure would weaken.

Downside targets:

4,000
3,985
Trading Plan
Bias: Bullish
Entry Zone: 4,040–4,050 (after bullish confirmation)
Stop Loss: Below 4,020 (or below the most recent swing low)
Take Profit 1: 4,080
Take Profit 2: 4,100
Take Profit 3: 4,115
Conclusion

Gold is trading at a critical technical support where the rising trendline and demand zone converge. As long as this support holds, the probability favors a continuation toward 4,100–4,115. However, traders should wait for bullish confirmation before entering, as a breakdown below 4,020 would invalidate the current bullish outlook.