Gold Market Analysis:Triangle Pattern Signals

A previous upward trend was broken, leading to a shift in market direction.
After the uptrend was broken, the price followed a downtrend but has now broken out of this downward channel.
A symmetrical triangle pattern has formed, indicating price consolidation.
Range Trading Strategy (If No Breakout Occurs)
If the price continues bouncing between $2,850 and $2,950, traders can trade within the range:
Buy near $2,860–$2,870 (support level).
Sell near $2,940–$2,950 (resistance level).

Bullish Breakout: If the price breaks above the upper resistance zone (around $2,950+), it could trigger a strong upside move.

Entry: Buy above $2,930–$2,950 with confirmation.
Target 1: $2,980
Target 2: $3,020 (Psychological Resistance)

Bearish Breakout: If the price drops below support (around $2,850), it may continue downward.
Entry: Sell below $2,880.
Target 1: $2,830
Target 2: $2,780