CFDs on Gold (USD/OZ) Symmetrical Triangle Squeeze Setup!

GOLD

🟡 CFDs on Gold (USD/OZ) Symmetrical Triangle Squeeze Setup! 📊

GOLD's been on a rollercoaster since early Oct! 🚀 Starting from a solid base at Point A (~$3,730 on Oct 3) 🏗️, it powered up in a steep ascending channel 📈, smashing through resistance to hit euphoric highs at Point B (~$4,600 by Oct 15) – a whopping +23% pump fueled by green marubozu candles, surging volume, and RSI blasting overbought at 75 amid safe-haven flows. But greed turned to fear: A sharp reversal kicked in at Point C, forming a classic symmetrical triangle consolidation 🔺 between ascending support (blue line from A-B) and descending resistance (from C), coiling tight over 10+ days with contracting volatility – MACD flattening, Bollinger Bands squeezing like a spring ready to pop!

Fast-forward to Oct 27: Price's testing the apex near $3,989 (up +3.989% short-term) ⚖️, hovering at the 0.47 Fib retracement level from the A-B swing 🕸️ (key support at $3,950, resistance at $4,070). Breakout north? Bulls could rocket to $4,200 (5.5% quick gain) or full measured move to $4,600 retest for +15.5% profit 💰 from here – ideal for longs with stops below $3,900. Bear breach? Down to $3,700 (-7%) for shorts. Geopolitics + Fed whispers = high octane – watch volume explosion! ⚠️

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