After reaching its record high of 3500 in April 2025, Gold entered a contracting consolidation phase for more than 3 months now, bounded between the 3500 resistance and 3100 support. This structure sets the stage for a breakout, with price action tracing five waves—raising the probability of another leg higher.
• Bullish Scenario: A close above the 3450 level could open the door to 3780 and even 4000, aligning with the broader monthly cup-and-handle formation target.
• Bearish Scenario: A close below 3300 could expose the market to downside risks, with potential retracements to 3280, 3250, 3200, and 3130.
Written by Razan Hilal, CMT
• Bullish Scenario: A close above the 3450 level could open the door to 3780 and even 4000, aligning with the broader monthly cup-and-handle formation target.
• Bearish Scenario: A close below 3300 could expose the market to downside risks, with potential retracements to 3280, 3250, 3200, and 3130.
Written by Razan Hilal, CMT
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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.
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.