Gold broke out of a multi-year consolidation (2020–2024) when it cleared the previous all-time high of $2,080. Once that level broke, we entered price discovery mode.
This is important: There's no overhead resistance from traders who bought at higher levels because there are no higher levels. That's bullish. But it also means we're in uncharted territory.
The weekly chart shows a clean uptrend with no signs of reversal yet. But rallies this big and fast typically need consolidation phases.
Here's where it gets specific. Gold showed a classic consolidation pattern:
- Consolidation range: $2,565–$2,750
- Breakout point: Early 2025
- Measured move target: ~$3400
Using the Fibonacci extension, if the uptrend continues, it suggests the next major resistance is around $4,500 and $4,750.
If you plot these on a chart, you see:
- Gold broke out cleanly from consolidation
- Every pullback has been bought
We're in a controlled uptrend, not parabolic. This is the structure of a trend that could continue.
But it's also the structure that could reverse if critical support breaks.
This is important: There's no overhead resistance from traders who bought at higher levels because there are no higher levels. That's bullish. But it also means we're in uncharted territory.
The weekly chart shows a clean uptrend with no signs of reversal yet. But rallies this big and fast typically need consolidation phases.
Here's where it gets specific. Gold showed a classic consolidation pattern:
- Consolidation range: $2,565–$2,750
- Breakout point: Early 2025
- Measured move target: ~$3400
Using the Fibonacci extension, if the uptrend continues, it suggests the next major resistance is around $4,500 and $4,750.
If you plot these on a chart, you see:
- Gold broke out cleanly from consolidation
- Every pullback has been bought
We're in a controlled uptrend, not parabolic. This is the structure of a trend that could continue.
But it's also the structure that could reverse if critical support breaks.
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.