Gold resumes bullish rebound, targets descending channel resistance $3,380

• Dollar weakness supports Gold Upmove.

• Immediate hurdle $3250.

• Next Challenge 4 Hourly 100  SMA $3280.

• Major Resistance descending channel trendline $3380.

• Support Zone $3215-$3200 & $3190.

Gold continues to attract buyers on dips as the weakness in the greenback keeps safe haven demand for the yellow metal intact.

As bulls successfully reclaimed the psychological mark $3200 and established support at local demand zone $3215, the metal witnesses further attempts at 4 hourly 50 EMA $3242 above which immediate hurdle sits at $3250.

If Gold finds enough buying momentum and clears through $3250, we expect next upsde reaching mid range $3265 above which further extension comes for $3280

A strong push followed by a Daily close above this $3280 will ease the way to major resistance at descending channel resistance $3380

All this while, any retracement towards local demand area $3230-$3215 will be closely monitored by bulls as break below this zone will extend decline to $3200 below which next support sits at $3190