Gold Breakout From Converging Triangle Key SupportLevel to Watch

yesterday

Gold (XAUUSD) has successfully broken out of the converging triangle pattern, showing strong bullish momentum. Price action confirmed multiple BOS (Break of Structure) points, followed by a clean breakout rally toward the $3,470+ zone.

Currently, price is consolidating near the highs. If buyers fail to hold this level, we may see a healthy pullback into the support zone at $3,420 – $3,400. A deeper correction could retest the major support level near $3,320 before continuing the bullish trend.

📊 Key Technicals:

Pattern: Converging Triangle ✅

Breakout: Confirmed with BOS

Immediate Support Zone: $3,420 – $3,400

Major Support Level: $3,320

Upside target (if bullish momentum continues): $3,500+

Watch for a retest of the broken resistance (now acting as support).

Possible dip-buying opportunities around support zones.

Bullish bias remains valid as long as $3,320 support holds

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