Gold Bullish Rebound: Retest of 4,290 Support, Target 5,600Gold FuturesCOMEX_DL:GC1!DNP-FXThe daily chart of Gold Futures (GC1!) illustrates a highly volatile price action that remains strictly contained within a broad parallel channel structure. Currently, the asset is undergoing a healthy corrective phase following a significant rally. Based on the established price action, the market recently executed a breakout above the upper channel, followed by a retest or rejection as it attempted to reclaim the previous resistance level (indicated by the red arrow). Price is now gravitating toward a critical Support level at 4,290, which aligns with the lower trendline that has historically served as a robust bounce zone (higher lows). Technically, the rationale for this Long bias is the convergence between psychological price levels and long-term trendline integrity. The green arrows on the chart confirm that every touchpoint on the lower boundary has historically triggered significant buying accumulation. Should the 4,290 level hold and form a bullish reversal pattern (such as a Bullish Engulfing or Hammer), the medium-to-long-term target is projected at 5,600, following the trajectory of the large blue arrow. Execution Details & Key Levels: Entry Signal: It is recommended to wait for price to enter the 4,290 – 4,350 zone. Additional confirmation via price action showing clear rejection in this area is required before initiating a Buy position. Take Profit (TP): The primary target is set at 5,600, representing a new resistance level based on the ongoing uptrend projection. Stop Loss (SL): Placed below the 4,200 level. A daily close below this threshold would invalidate the bullish scenario and signal a structural trend shift (Change of Character). Timeframe: Daily (Medium to Long Term). Strategy Summary: Entry Area: 4,290 – 4,350 (Pending bounce confirmation). Take Profit: 5,600. Stop Loss: 4,200 (Daily close below the trendline). Risk/Reward: Highly favorable, as the potential upside significantly outweighs the risk of a breakdown below current support.