Dmitri Lysenko
⬤ Gold's holding its ground nicely on the hourly timeframe, with XAU/USD keeping a bullish structure after bouncing back from early February lows. Price action shows gold respecting an ascending channel while making higher highs around the $5,080 zone—momentum's still pointing up despite some recent consolidation.
⬤ The chart shows a clean break of structure that confirmed buyers took control during the latest push higher. After that BOS, price stayed inside the rising channel instead of reversing, meaning sellers haven't been able to push back yet. Pullbacks have been shallow and quick, reinforcing that the uptrend's still running strong rather than shifting into any major pullback.
⬤ There's a key demand zone sitting below current levels—roughly between $5,050 and $5,000. This lines up with previous structural support and the bottom of the ascending channel. As long as price stays above this area, the bullish setup stays valid. The chart also maps out potential upside targets, with gold eyeing the $5,200 zone first and possibly stretching toward $5,280 if the momentum keeps rolling.
⬤ This setup matters because it shows improving short-term sentiment after the earlier drop. If gold keeps respecting this ascending channel, bulls stay in control. But a breakdown below that demand zone would flip the structure and open the door for more downside. With XAU/USD sitting near the upper half of the channel right now, the next few moves will tell us whether gold pushes higher or slides into a deeper correction.
Dmitri Lysenko
