Lingrid | GOLD Weekly MARKET Outlook: From ATH to Range-Bound

18 May

XAUUSD market is currently in a critical consolidation phase following its all-time high level. The recent price action shows a significant pullback with a close below both the last 4 weeks' low and the previous higher low. This isn't necessarily a reversal but rather a structural shift toward a range-bound market dynamic. The chart clearly illustrates a completed impulse leg that reached the resistance zone, followed by what appears to be developing into a corrective move.

The upward trendline that has supported the entire rally from the bottom around 2843 remains intact despite recent weakness. This suggests the longer-term bullish structure hasn't been invalidated yet, though it's currently being tested. The recent break below 3260 is particularly significant as it represents a break of support that had previously acted as a foundation for bullish price action. This suggests a deeper correction may unfold before the next structural move can develop.

Fundamentally, this pullback may be attributed to several factors including stabilizing geopolitical tensions, pausing the tariff war, or profit-taking after the substantial run-up. While the gold market has clearly shifted from its parabolic advance to a consolidation phase, the overall structure remains constructive for eventual continuation higher once this correction completes.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

19 May

İşlem aktif

Gold is struggling to reclaim the 3280 resistance after a strong rebound from the 3120 support zone. Price is currently forming a lower high under key resistance, suggesting weakening bullish momentum. If 3280 continues to hold, sellers may attempt to drive price back toward the lower boundary of the channel around 3120. A break below this level would shift the bias toward 3000 and invalidate the broader bullish structure.

📈 Key Levels
◾️ Sell zone: 3280
◾️ Sell trigger: bearish rejection from resistance
◾️ Target: 3120 → 3000
◾️ Buy trigger: strong breakout and close above 3280

💡 Risks
- Gold remains in a long-term bullish channel.
- Dovish Fed comments could ignite another upside rally.
- US inflation or labor data surprises may increase volatility.