GOLD has been consolidating inside a bullish symmetric triangle for the past 4 months, with volatility contracting significantly as the pattern matured.
Based on the measured move objective of the triangle, the projected target stands at 4173.
This breakout suggests continuation of the broader bullish trend, with volatility expansion likely to follow.
📊 Key levels to watch:
- On the support side, we can clearly identify 3 reversal points.
- On the resistance side, price has tested 2 reversal points before finally breaking out to the upside.
- The breakout leg shows strong bullish momentum, confirming buyers are in control.
Based on the measured move objective of the triangle, the projected target stands at 4173.
This breakout suggests continuation of the broader bullish trend, with volatility expansion likely to follow.
📊 Key levels to watch:
- Support: former triangle resistance now turned into potential support
- Stop-loss zone: near the apex of the triangle
- Target: 4173
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