Gold can continue its bullish trend after small correction

[Antony Bishop]

Hello traders, I want share with you my opinion about Gold. The market context for Gold has been firmly bullish since the price broke out of its prior consolidation range, a move that originated from the deep 3270 - 3290 buyer zone. This breakout shifted the market structure, initiating a new impulsive phase that has since been guided by a major ascending mirror line. The price action for XAU has been respecting this dynamic support, creating a clear sequence of higher highs and higher lows. Currently, after reaching a new local high, the asset is undergoing a healthy corrective phase. This pullback is guiding the price back towards a critical confluence of support, defined by the 3622 - 3598 support zone and the ascending mirror line itself. The primary working hypothesis is a long, trend-continuation scenario, which anticipates that buyers will step in to defend this key support cluster. A confirmed bounce from this area would signal the conclusion of the corrective move and the resumption of the dominant upward trend. This would likely initiate the next impulsive wave higher. Therefore, the TP is logically placed at 3720, representing a new potential structural high