Gold (XAU/USD) continues to trade within a well-defined consolidation pattern following its strong rally earlier in the quarter. The metal is currently forming a symmetrical triangle, bounded by rising support near 4,000 and descending resistance around 4,250. This setup reflects a period of equilibrium between buyers and sellers as momentum stabilizes after recent highs.
The 50-day simple moving average (SMA) near 3,965 remains an important dynamic support, while the 200-day SMA far below at 3,427 indicates the broader uptrend remains intact. Price recently rebounded from the triangle’s lower boundary and the 50-day SMA, suggesting that short-term buyers are still active within the structure.
Momentum readings are neutral to mildly constructive. The MACD lines are flattening after a bearish crossover, signaling reduced downside momentum, while the RSI hovers near 56, consistent with balanced but improving sentiment.
As long as gold remains above the 4,000 region, focus stays on a potential breakout from this converging pattern — with direction likely dictated by whether bulls can overcome the upper trendline resistance or if sellers regain control near that zone.
-MW
The 50-day simple moving average (SMA) near 3,965 remains an important dynamic support, while the 200-day SMA far below at 3,427 indicates the broader uptrend remains intact. Price recently rebounded from the triangle’s lower boundary and the 50-day SMA, suggesting that short-term buyers are still active within the structure.
Momentum readings are neutral to mildly constructive. The MACD lines are flattening after a bearish crossover, signaling reduced downside momentum, while the RSI hovers near 56, consistent with balanced but improving sentiment.
As long as gold remains above the 4,000 region, focus stays on a potential breakout from this converging pattern — with direction likely dictated by whether bulls can overcome the upper trendline resistance or if sellers regain control near that zone.
-MW
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إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.