Ascending channel intact is gold building energy below 5,200 GoldOANDA:XAUUSDAndree_FxMarket context Gold remains inside a well-defined ascending channel, with price currently trading around 5,195–5,200. The broader structure is constructive: higher highs and higher lows are intact, and price continues to respect the lower boundary of the channel. After the strong push into 5,240–5,250, the market transitioned into a sideways accumulation phase rather than a deep correction suggesting acceptance at elevated levels. Current structure - Channel support: rising toward 5,145–5,160 - Key horizontal support zone: ~5,140–5,150 - Range resistance / local cap: ~5,210–5,220 - Upside reference / target: ~5,250–5,260 Price is holding above both moving averages (short-term MA near 5,180 and higher timeframe MA near 5,150), keeping momentum constructive despite the consolidation. The recent pullback found buyers near the lower channel boundary, and candles are now compressing again just under 5,200 a typical behavior before range resolution. Scenarios ➡️ Primary scenario: If the 5,145–5,160 support cluster continues to hold, price may grind higher within the channel and attempt a breakout above 5,220, opening the path toward 5,250–5,260. ⚠️ Risk scenario: A sustained breakdown below 5,140, especially with acceptance under the channel base, would weaken the ascending structure and expose a deeper retracement toward 5,100–5,080. Disclaimer: This analysis reflects personal market observations and is for educational purposes only. It is not financial advice. Always manage risk appropriately and make independent trading decisions based on your own strategy and risk tolerance.