Consolidation In Gold, What will be next move ??
Gold prices (XAU/USD) are consolidating within a symmetrical triangle and the key range of $2,875-$2,860. This period of consolidation suggests an impending breakout.
Market Outlook
Upside Scenario: A breakout above $2,875 could push prices toward the psychological level of $2,900.
Downside Scenario: If gold breaks below $2,860, a correction toward $2,840 may follow.
Trend & Strategy
The overall trend remains bullish, but traders are closely monitoring key breakout levels. A move above $2,872 could provide buying opportunities, while a break below $2,860 may signal short-term weakness.
Market Outlook
Upside Scenario: A breakout above $2,875 could push prices toward the psychological level of $2,900.
Downside Scenario: If gold breaks below $2,860, a correction toward $2,840 may follow.
Trend & Strategy
The overall trend remains bullish, but traders are closely monitoring key breakout levels. A move above $2,872 could provide buying opportunities, while a break below $2,860 may signal short-term weakness.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.