Gold Price Analysis Bullish Breakout Potential AmidConsolidation

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Updated Technical Analysis – Gold (XAU/USD) – 30-Minute Chart

Chart Overview:

Instrument: CFDs on Gold (USD/OZ)

Timeframe: 30-minute

Date: June 18, 2025

Price: $3,382.960

Recent Move: -$3.640 (-0.11%)



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Key Observations:

1. Ascending Channel (Green Zone):

Gold has been trending upwards within a well-defined ascending channel.

The price has recently retraced from the upper boundary and is currently testing the midline/lower edge of the channel, indicating a potential rebound zone.


2. Sideways Consolidation (Red Box):

A rectangular consolidation has formed between approximately $3,360 and $3,400, indicating indecision in the market.

Price has been ranging tightly within this box for the past couple of days.

The consolidation is forming within the broader bullish channel, acting as a potential bullish continuation pattern.


3. Price Action and Projections:

The chart shows a possible bounce from the lower boundary of the consolidation and channel zones.

A bullish breakout above $3,400 would likely signal a continuation of the uptrend toward the top of the channel (targeting ~$3,440–$3,460).



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Conclusion:

Gold is in a bullish trend but currently consolidating in a tight range. The support from the lower end of the consolidation and broader channel suggests a likely upside breakout. Watch for a confirmed move above $3,400 for bullish continuation. A breakdown below $3,360 would invalidate the bullish bias and could trigger a short-term pullback toward $3,320–$3,300.


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Suggested Strategy:

Bullish Bias: Buy on breakout above $3,400

Stop Loss: Below $3,360

Target Levels: $3,440 / $3,460

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