đ Gold Price Outlook: Consolidation Underway Before Potential Upside
Gold is showing sideways consolidation in early trading, with technical support near major levels and the broader trend remaining bullish. Analysts see modest pullbacks as buying opportunities, while long-term targets remain elevated.
Key Facts:
đš Consolidation phase: Price action is choppy as the market seeks direction early in the session, with noise but relative stability.
đĄ Support level: The $4,400 area acts as a key psychological and technical floor, reinforced by the approaching 50-day EMA.
đ Upside potential: Technical patterns (an ascending triangle) point to a possible extension toward ~$4,900, with some traders even eyeing a test of $5,000/oz in the coming months.
Expert Insight:
While short-term consolidation could persist, the broader gold trend stays bullishâwith dips likely to attract buyers and major trend targets still intact.
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