Gold: Trend Stays Up — Buy the Pullback, Don't Fight the Momentum

Gold has risen over 250 points so far this week, climbing daily and showing strong short-term momentum. With momentum this clear, the priority is trading with the trend and avoiding shorts in the short term — the better approach is waiting for a pullback before entering long.

Currently trading above 4280, gold doesn't need to be chased here. Patience for a pullback into the buy zones is the safer path to a long entry.

Key Levels:

🔴 Resistance: 4310 – 4320
🔵 1st Support (pullback buy zone): 4250 – 4260
🔵 2nd Support (deeper buy zone): 4040 – 4050
🟢 Key support to hold: 4240 – 4250 (this morning's opening price)
📈 Bias: Bullish while trend holds — buy dips, avoid shorts

Analysis:

The 4240-4250 zone (this morning's open) is the level to watch first — holding it keeps the short-term uptrend structure intact and supports fresh long entries. With price currently above 4280, patience for a pullback into 4250-4260 is preferred over chasing strength, with small long positions considered there. Deeper support around 4040-4050 remains a zone to continue buying into if the market pulls back further. On the upside, 4310-4320 is the resistance to watch — a confirmed break above it opens the door toward 4360-4380.

⚠️ Educational purposes only. Always use proper risk management before entering any trade.