XAUUSD / Consolidation and Breakout Scenarios

Gold Technical Analysis

The price is expected to consolidate between 2620 and 2638 until a breakout occurs. Initially, the price will likely attempt to reach 2638 from the pivot line, which is between 2620 and 2612. If the price manages to break above 2638 by closing a 4-hour or 1-hour candle above this level, it could push further upward toward 2653.

Conversely, if the price stabilizes below 2612, it would indicate a bearish trend toward 2585.

Key Levels

Key Levels:
Pivot Point: 2620
Resistance Levels: 2635, 2645, 2653
Support Levels: 2612, 2600, 2558

Trend Outlook:
Bearish Trend: Below 2612
Bullish Trend: Above 2620