HelenP. I Gold may break trend line and continue to fall

Hi folks today I'm prepared for you Gold analytics. The trend line on this chart has consistently acted as a dynamic support for price, with multiple clean rebounds confirming its strength. As the price continued respecting this diagonal line, the structure gradually began tightening, forming a large symmetrical triangle. This pattern suggests a buildup of pressure between buyers and sellers. Once inside the triangle, the price action turned more volatile, with higher lows pushing against a strong resistance zone around the 3365 - 3390 range. Despite multiple attempts to break through, the market failed to sustain any move above this level. Each rally was met with rejection, and bearish momentum slowly started to emerge. Recently, the price reached the upper boundary of the triangle and touched the resistance zone again, but it quickly pulled back without breaking out. Currently, Gold is trading close to the intersection of the resistance zone and the trend line, where a decisive move is likely to occur. Given the weakening bullish momentum and the triangle’s narrowing formation, I expect the price to exit the pattern to the downside. A break of the trend line may trigger stronger selling, leading to a move toward the 3225 level - my current goal based on this potential bearish breakout. If you like my analytics you may support me with your like/comment ❤️

Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

Trade active

Good! Price exited from triangle and continues to fall. I expect that price wil reach my goal.

FirstNameHelen

🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ bit.ly/4grtzW3

❤️Welcome to my telegram channel👉🏼 bit.ly/418mk0x

ThinkMarket Ambasador Join & explore bit.ly/3YLyRVV

Also on:

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.

FirstNameHelen

Also on: