Consolidation In Gold, What will be next move ??
Gold prices (XAU/USD) are consolidating within a symmetrical triangle and the key range of $2,875-$2,860. This period of consolidation suggests an impending breakout.
Market Outlook
Upside Scenario: A breakout above $2,875 could push prices toward the psychological level of $2,900.
Downside Scenario: If gold breaks below $2,860, a correction toward $2,840 may follow.
Trend & Strategy
The overall trend remains bullish, but traders are closely monitoring key breakout levels. A move above $2,872 could provide buying opportunities, while a break below $2,860 may signal short-term weakness.
Market Outlook
Upside Scenario: A breakout above $2,875 could push prices toward the psychological level of $2,900.
Downside Scenario: If gold breaks below $2,860, a correction toward $2,840 may follow.
Trend & Strategy
The overall trend remains bullish, but traders are closely monitoring key breakout levels. A move above $2,872 could provide buying opportunities, while a break below $2,860 may signal short-term weakness.
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