Hey everyone! Great to see you again for today’s gold market update.
Right now, gold is trading around $3,230, consolidating inside a tight wedge pattern. Momentum is slowing, and the EMAs are compressing — clear signs that a breakout could be right around the corner. This kind of setup often leads to explosive moves, offering short-term profit opportunities.
The chart suggests price may continue to coil for a few more swings before potentially breaking down below the trendline. If that happens, the next support target lies near $3,161 — a level that previously sparked a strong bullish bounce.
Still, we can’t rule out the opposite — a sharp breakout to the upside if buyers step in. That’s why risk management is key here. Make sure your TP and SL are in place.
📉 Your turn – do you think gold is about to break higher or drop lower?
Let me know in the comments!
Right now, gold is trading around $3,230, consolidating inside a tight wedge pattern. Momentum is slowing, and the EMAs are compressing — clear signs that a breakout could be right around the corner. This kind of setup often leads to explosive moves, offering short-term profit opportunities.
The chart suggests price may continue to coil for a few more swings before potentially breaking down below the trendline. If that happens, the next support target lies near $3,161 — a level that previously sparked a strong bullish bounce.
Still, we can’t rule out the opposite — a sharp breakout to the upside if buyers step in. That’s why risk management is key here. Make sure your TP and SL are in place.
📉 Your turn – do you think gold is about to break higher or drop lower?
Let me know in the comments!
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✅You can get 7-10 Forex, XAUUSD, Bitcoin...signal every day
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
✅ Trading knowledge and answers to questions 24/7
✅Completely free.
👉Join by clicking the following link:
t.me/+O3-l2fUUSpU1NGRl
Related publications
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.