GOLD Consolidation Scenario pattern what should next move ?
Gold has been respecting both the upper and lower trendlines for several sessions. After a strong climb during the previous days, the market has now moved into a consolidation phase near the mid-range of the channel, signalling that buyers and sellers are currently balancing out around the 4180–4210 region.
In the highlighted zone, price is fluctuating inside a tight range, indicating indecision but also suggesting that a larger move is building. This grey area represents a key decision zone a breakout above it could reactivate bullish momentum, while a breakdown below it may open the door for deeper retracement.
If buyers manage to defend the near-term support around 4200–4210, and price pushes back above the consolidation block, an upside breakout open the path toward the next target are 4250 / 4260, aligning with the upper side of the broader channel.
If price fails to hold the current support zone, then a rejection from this consolidation area can push gold downward toward the next key support at 4165. A decisive break below 4165 would indicate that sellers are taking control, and the market could slide further toward the deeper support around 4140, which is marked as a major demand zone and the lower boundary of the channel structure.
You may find more details in the chart,
Trade wisely best of Luck Buddies.
Ps; Support with like and comments for better analysis thanks for supporting.
In the highlighted zone, price is fluctuating inside a tight range, indicating indecision but also suggesting that a larger move is building. This grey area represents a key decision zone a breakout above it could reactivate bullish momentum, while a breakdown below it may open the door for deeper retracement.
If buyers manage to defend the near-term support around 4200–4210, and price pushes back above the consolidation block, an upside breakout open the path toward the next target are 4250 / 4260, aligning with the upper side of the broader channel.
If price fails to hold the current support zone, then a rejection from this consolidation area can push gold downward toward the next key support at 4165. A decisive break below 4165 would indicate that sellers are taking control, and the market could slide further toward the deeper support around 4140, which is marked as a major demand zone and the lower boundary of the channel structure.
You may find more details in the chart,
Trade wisely best of Luck Buddies.
Ps; Support with like and comments for better analysis thanks for supporting.
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Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.