Core Viewpoint - The gold market remains in a bullish trend as long as it stays above the 20-day average, currently at $4,154, with a key resistance level at last week's high of $4,264 indicating potential for further upside [1][5] Group 1: Bullish Indicators - Sustained trading above the 20-day average suggests continuation of the bullish trend, with strong demand indicated by the 50-day average not being reached during recent pullbacks [1] - The recent correction in gold prices has been contained near the top of two rising trend channels, indicating market strength despite a failed breakout [3] Group 2: Support Levels - If gold prices drop below the 20-day average, the next key support level is the 50-day average at $4,097, which has not been tested since the August breakout [2] - A breach below the 50-day average would signal a bearish trend and risk a deeper correction in the near term [2] Group 3: Price Targets - A breakout above the swing high of $4,264 targets an initial measured move to $4,356, with further upside potential reaching $4,381 and a 127.2% measured move projection at $4,454 [4] - The overall outlook remains bullish as long as the 20-day average holds, with initial defense at the 50-day line and further support from the channel top and centerline [5]