XAUUSD M15 | Ascending Channel Analysis, Key Support & Higher Re
Gold has maintained a strong short-term upward structure on the 15-minute chart. The price action shows a clear progression of higher highs and higher lows, supported by an ascending trendline.
After moving strongly upward from the lower 4140–4160 region, price reached the 4360–4370 area and began consolidating. This consolidation is currently taking place above the rising trendline and above the marked 4300–4305 support zone.
The 4300–4305 region is particularly important because it aligns with the recent structural support area. If this level continues to hold, the current higher-low formation remains intact.
Key Technical Levels
Current Price: ~4342
Support Areas
4320: Near-term support
4300–4305: Key structural support
4220: Major historical support shown on the chart
4140–4160: Broader demand region
Resistance Areas
4360: First resistance
4380: Second resistance
4420: Major resistance
4440: Extended resistance
Potential Reference Targets
Target 1 → 4360
Target 2 → 4380
Target 3 → 4420
Target 4 → 4440