Gold is recovering after a sharp corrective drop and is now stabilizing above the 5,100 demand base on the 2H timeframe. Price has reclaimed short-term structure and is compressing below the 5,195 horizontal resistance, which aligns with prior consolidation highs.

Technical observations:

Strong rejection from 5,100 demand zone

Higher low formation developing

Price attempting to reclaim 50 MA

Short-term moving averages curling upward

Momentum shifting from corrective phase to recovery

A sustained 2H close above 5,195 would confirm short-term structural strength and likely trigger upside expansion toward:

TP1 → 5,240 (near prior breakdown level)

TP2 → 5,290 (range resistance zone)

Historically, around 70% of the time, when gold reclaims a key horizontal level after a liquidity sweep and forms a higher low structure, continuation toward the next supply zone tends to follow.

Alternatively, if price pulls back toward 5,100–5,120 and forms a strong bullish reaction, rebound entries remain valid while the higher low structure remains intact.