hello guys!
Symmetrical Triangle Formation
Gold is trading within a triangle pattern, with price approaching a key resistance zone.
The top trendline of the triangle is acting as a major resistance, while the bottom trendline provides support.
Potential Scenarios
Bullish Case: If price breaks above the minor ascending channel, Gold could test the $2,928-$2,930 zone, potentially aiming for a stronger breakout.
Bearish Case: If resistance holds, a rejection could push Gold down to retest the bottom trendline near $2,885-$2,890.
Key Levels to Watch
Breakout Above: $2,928 could trigger a bullish continuation.
Breakdown Below: $2,900 could indicate a deeper correction.
Final Take:
Gold is at a crossroads—will bulls break through resistance, or will bears drag it back down? Stay sharp, as a decisive move is coming soon!