Gold trading near ATH, Bulls are waiting for breakout.

After 6 days of rangebound movement, Gold Bulls are back & looking for a Breakout on Daily Chart. In early asian session Gold gave a breakout from 1hr Flag Pattern & currently trading at 2753 at the time of writing this report. On 4hr Time frame it has formed an ascending triangle pattern which is bullish in nature. Dollar Index & Bond Yields are consolidating attracting fresh buyers in Gold. Meanwhile, increased enthusiasm that former US President Donald Trump could win the November 5 election, combined with hopes of more Chinese stimulus, underpin global equities, diminishing the attractiveness of the go-to safe-haven, the US Dollar.
Traders today will be waiting for CB Consumer Confidence data alongside JOLTS Job Openings.
Gold Structure: Inside Bar Breakout on Daily, Near Flag Breakout on Daily, Ascending Triangle Pattern on 4hr, Breakout from flag on 1hr.
Intraday Strategy/ Intraday Trend: Buy on Support,Buy on Breakouts/ Bullish
Weekly Trend: Hyper Bullish
Major Resistance: 2758,Undefined, Undefined
Major Support: 2747,2740,2730
Recent News
Gold regained traction amid rising conce...
May 19, 2025
Market Insights
Gold View.
October 18, 2024
Market Insights
Nasdaq Analysis
October 14, 2024
Market Insights
Gold price flat lines below $2,650 level...
December 03, 2024
Market Insights
DAX making a Flag on Daily chart
November 26, 2024
Market Insights
DAX making a bullish flag on daily time...
October 29, 2024
Market Insights