Usman Salis
⬤ Gold is grinding sideways near $4,205 while traders try to figure out what comes next. The recent price pattern isn't following the typical symmetrical triangle playbook anymore—it's evolved into something different. That means the focus should stay on clear support and resistance zones rather than textbook chart patterns. After some wild swings earlier this quarter, things have settled down, but there's still no obvious sign of which way price wants to break.
⬤ The bigger picture shows gold climbing strongly after breaking out of a four-month ascending triangle near $3,450, which eventually pushed it up to $4,380. After pulling back to $3,886, it's now coiling up just beneath that $4,250 resistance level. Momentum has cooled off but hasn't turned negative. If gold can reclaim $4,250, there's a good chance it'll test $4,380 pretty quickly. Until then, the rising support line keeps the short-term structure intact.
⬤ Traders are glued to these levels because the formation has shifted away from its original symmetrical triangle setup. Right now, price is squeezed between flat resistance above and rising support below, creating a tight range that's easy to monitor. With gold hanging around $4,205, the market is waiting for a clear directional move while keeping those key levels in sight.
⬤ This setup matters because it could mark a turning point for gold's overall trend. Breaking above $4,250 would fuel bullish momentum and put $4,380 back in play, while continued rejection at resistance might drag out this consolidation or even shift attention down to lower support zones. The combination of old resistance, fresh consolidation, and long-term upside momentum makes the next move particularly important for the precious metals space.
Usman Salis
