Gold is currently testing a major confluence area formed by multiple structural levels.
Price is now touching:
The upper boundary of the black descending channel
– A confirmed breakout would signal the end of the bearish leg.
The 50% midpoint of the blue channel
– Breaking above it opens the door toward the upper side of the main ascending channel.
The upper boundary of the yellow channel
– Not completed or validated yet, so considered secondary until structure develops further.
All these technical elements meet around the 4170$ level,
making it the key breakout point to unlock bullish continuation.
A strong close above 4170 may shift momentum upward
and push price toward higher channel targets.
Failure to break it keeps price inside current structure.
Further updates will follow with confirmation.
Price is now touching:
The upper boundary of the black descending channel
– A confirmed breakout would signal the end of the bearish leg.
The 50% midpoint of the blue channel
– Breaking above it opens the door toward the upper side of the main ascending channel.
The upper boundary of the yellow channel
– Not completed or validated yet, so considered secondary until structure develops further.
All these technical elements meet around the 4170$ level,
making it the key breakout point to unlock bullish continuation.
A strong close above 4170 may shift momentum upward
and push price toward higher channel targets.
Failure to break it keeps price inside current structure.
Further updates will follow with confirmation.
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.
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.