Gold triangle decision nears - bulls still hopeful

Gold continues to trade inside a tightening H2 symmetrical triangle, with both buyers and sellers gradually losing momentum. Price has tested the descending trendline several times without a confirmed breakout, while higher lows continue to form above the ascending support. This compression suggests volatility is decreasing, with a larger directional move likely once the range is broken.

From a technical perspective, the overall recovery scenario remains valid as long as price holds above the current support zone. However, the market still needs a decisive breakout above the triangle and nearby resistance to confirm bullish continuation. Until then, the preferred approach is to scalp within the range and prepare for a momentum trade once the breakout is confirmed.

📍 Key Levels:

🔹 4015 – 4030 Key support and preferred buying zone.

🔹 4055 – 4070 Triangle breakout area and first resistance.

🔹 4095 – 4110 Major upside target if buyers confirm the breakout.

🔹 3985 – 4000 Critical support if the triangle breaks to the downside.

✅ Preferred Scenario:

✔️ Gold continues respecting the triangle structure while holding above 4015–4030.

✔️ Intraday traders can continue scalping within the range until a confirmed breakout occurs.

✔️ A sustained move above 4055–4070 would validate bullish continuation and increase the probability of an extension toward 4095–4110.

✔️ If support fails and the triangle breaks lower, gold could revisit 3985–4000 before establishing a new direction.