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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Join my mailing list jindaotai.com/joinme
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.