Gold Spot / U.S. DollarUpdated GOLD ALERT WITH CASHTRAINFX
The XAUUSD (Gold) market is in a consolidation phase, with price action constrained between 2586 and 2546. This range suggests that a breakout could be imminent, depending on the next significant move.
Bearish Outlook:
A break below 2546 could signal a shift toward further downside.
Immediate support could be found around 2518, and further momentum might lead to deeper corrections if market sentiment remains bearish.
Bullish Outlook:
A breakout above 2586 may ignite a bullish rally.
The next target in this scenario would likely be around 2620, which could act as a resistance level if buying pressure continues.
Bearish Outlook:
A break below 2546 could signal a shift toward further downside.
Immediate support could be found around 2518, and further momentum might lead to deeper corrections if market sentiment remains bearish.
Bullish Outlook:
A breakout above 2586 may ignite a bullish rally.
The next target in this scenario would likely be around 2620, which could act as a resistance level if buying pressure continues.
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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.