Eseandre Mordi
⬤ Gold's entering a fresh compression phase as it coils up within the upper zone of its ascending broadening wedge. The current structure shows price tightening after a solid rally, setting up conditions where volatility could spike heading into December. The weekly chart shows gold hanging around the $4,150 mark while forming another symmetrical consolidation that looks a lot like earlier pauses we've seen in this trend.
⬤ Multiple symmetrical triangles have popped up throughout 2024 and 2025, each one forming during consolidation periods within the broader wedge before pushing higher. Gold's still trading above key trend support and holding firm in the upper half of the rising channel. This latest coiling formation matches up with previous phases where the metal took a breather before continuing its climb, hinting that something meaningful might be brewing before year-end.
⬤ The technical setup suggests potential for a strong January rally, backed by the repeated price behavior visible on the chart. This tight structure comes after a steep multi-month climb that pushed XAU toward new highs before momentum cooled in late November. With the pattern still holding and the broader wedge intact, gold's consolidation looks like part of an ongoing continuation play.
⬤ This setup matters because it's happening right where long-term trend strength meets short-term compression—conditions that typically come before bigger directional moves. The broader rising wedge stays dominant, and a continuation would reinforce the multi-year momentum that's been driving XAU's path. Traders will be watching whether December's squeeze leads into the early-year acceleration the technical picture suggests.
Eseandre Mordi
