Gold is currently narrowing its trading range and forming a triangle pattern, indicating a potential breakout setup on Tuesday, gold extended its decline, pressured by a strong U.S. dollar and reduced expectations of a Federal Reserve rate cut next month.
At the moment, gold remains in a consolidation phase as investors wait to see whether bullish momentum can continue if buyers regain control, and price breaks above the consolidation zone, the next resistance levels are expected at 4080 – 4120.
However, if price breaks below the support at 4025, this may signal renewed bearish momentum, with a psychological downside target zone of 3985 – 3948 as long as gold holds within the current range, there is still a possibility of another upside attempt, leading to a breakout toward higher targets.
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.
At the moment, gold remains in a consolidation phase as investors wait to see whether bullish momentum can continue if buyers regain control, and price breaks above the consolidation zone, the next resistance levels are expected at 4080 – 4120.
However, if price breaks below the support at 4025, this may signal renewed bearish momentum, with a psychological downside target zone of 3985 – 3948 as long as gold holds within the current range, there is still a possibility of another upside attempt, leading to a breakout toward higher targets.
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.
Trade active
1st target reached
Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
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.
Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
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.