Following its recent strong rally, gold has begun to slow down and move sideways. In my view, this does not necessarily signal the end of the trend. Instead, it appears to be a healthy pause, allowing the market to absorb selling pressure and establish a new base.
Throughout this consolidation, buyers continue to hold the advantage as pullbacks are repeatedly absorbed. Price may remain range-bound for a while longer, but as long as the current structure holds, bullish continuation remains my preferred scenario.
What I am waiting for is a decisive breakout from the consolidation range. If price pushes higher and establishes acceptance above it, that would indicate buyers are ready to resume the trend, potentially opening the way toward 4,600.
My outlook is straightforward: further consolidation, a few more fluctuations, and then a breakout once the market has absorbed enough supply. I will remain patient and wait for confirmation rather than trying to predict the exact timing of the move.
Throughout this consolidation, buyers continue to hold the advantage as pullbacks are repeatedly absorbed. Price may remain range-bound for a while longer, but as long as the current structure holds, bullish continuation remains my preferred scenario.
What I am waiting for is a decisive breakout from the consolidation range. If price pushes higher and establishes acceptance above it, that would indicate buyers are ready to resume the trend, potentially opening the way toward 4,600.
My outlook is straightforward: further consolidation, a few more fluctuations, and then a breakout once the market has absorbed enough supply. I will remain patient and wait for confirmation rather than trying to predict the exact timing of the move.
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Trade closed: target reached
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