GOLD Consolidation bullish and bearish Lets se What's Next ?Gold Price outlines two potential scenarios—bullish and bearish—based on how price reacts Gold slips in early trading as investor book profit after Wednesday gains and await for more federal rate cuts we expect Powell will signal a cautions meting during future cuts rates.
Technically Price is currently trading around the 4,200 level this area is acting as a mid-range zone, where buyers and sellers are battling for control a clean break below these levels could confirm a downside continuation if the price push higher and bulls manage then we could expect price growth again if the price no work and shows weakness and again make pattern in to downside so Gold is testing the support levels of the key trading around.
If price gains strength and breaks above the current consolidation the first upside target is around 4,240 and stronger breakout could push price toward the long-term target near 4,289, This scenario requires bullish momentum and a clear break above resistance. remember If the price not manage bulls again then expect downside target point would be 4185 to 4165.
You may find more details in the chart.
Trade wisely best of luck buddies.
Ps; Support with liker and comments for better analysis thanks for supporting.
