Gold (XAUUSD): What to Look At Next Week 🟡

OANDA:XAUUSD   Gold Spot / U.S. Dollar

Hey traders,

This week, we spotted weakening bullish momentum on Gold .
The market was steadily growing within a rising wedge pattern.

On Friday, the price has successfully violated the support of the wedge
signifying the initiation of a consolidation.

The price is stuck within a horizontal trading range now.
1911 - 1922 is its support. If the price breaks and closes below that, it will initiate a correctional movement.

Patiently wait for a breakout.
I will post an update once the breakout is confirmed.

Alternatively, a bullish breakout of the range may push the market higher.

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