Gold Navigates Correction within Rising Channel

Gold is currently in a corrective phase within its upward trend channel. The metal is forming a potential inverse head and shoulders pattern, provided it stays above the 2410 level. If this pattern solidifies, gold may encounter its first resistance at 2432. A sustained move beyond this resistance could open the path to further gains, targeting the 2450 and 2500 levels. On the downside, if gold falls below 2410, it would be crucial to watch for support at 2390 and 2370.