XAUUSD Technical Analysis – 30 Mint Timeframe
Gold is currently consolidating within a wedge pattern, signalling a potential breakout as traders position themselves ahead of possible distribution phase. Price action suggests a bullish correction is forming, supported by a key trendline on the 30 Mint chart.
Friday’s session followed a mixed and low-volume holiday trade on Thursday. Traders are now awaiting fresh signals, particularly from the Federal Reserve, while also closely monitoring ongoing geopolitical tensions in the Middle East.
📈 Technical Overview:
Resistance Levels: 3385 / 3400
Support Levels: 3350 / 3345
Structure remains bullish in correction, but the breakout direction from the wedge will be key Watch closely for volume spikes and Fed-related headlines.
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Gold is currently consolidating within a wedge pattern, signalling a potential breakout as traders position themselves ahead of possible distribution phase. Price action suggests a bullish correction is forming, supported by a key trendline on the 30 Mint chart.
Friday’s session followed a mixed and low-volume holiday trade on Thursday. Traders are now awaiting fresh signals, particularly from the Federal Reserve, while also closely monitoring ongoing geopolitical tensions in the Middle East.
📈 Technical Overview:
Resistance Levels: 3385 / 3400
Support Levels: 3350 / 3345
Structure remains bullish in correction, but the breakout direction from the wedge will be key Watch closely for volume spikes and Fed-related headlines.
If You like this idea if you have On Opinion about this analysis Share in comments Thanks.
Trade closed: target reached
1st Target done
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Disclaimer
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.