From TradingView · · 1m
Gold Stuck in Range, Breakout Expected
Gold futures trade within a tight range as new week begins, with traders watching for breakout signals.
In brief
Gold futures trade within a tight range as new week begins, with traders watching for breakout signals. Gold futures remain within a three-week consolidation range, with traders waiting for a clear breakout above 4220 to confirm a bullish trend. Originally reported by TradingView.
Gold Consolidating
Gold has been consolidating for the past three weeks, watching for a breakout above 4220 to confirm a bullish trend.
Bullish Scenario
If gold maintains above the previous Daily, Weekly, and Monthly Low areas, it could push toward 4220 with the previous Weekly High at 4242.3 in focus.
Bearish Scenario
If price fails to hold recent gains, it may rotate lower to the H4 FVG around 4129, 4152, aligning with the previous Monthly Low near 4143.
My Plan
Traders will watch price behavior around key levels to determine if buyers establish control and momentum confirms a breakout.
The short version
Gold futures remain within a three-week consolidation range, with traders waiting for a clear breakout above 4220 to confirm a bullish trend.
