@ArchieG36 on XAUUSD | PriceONN Community

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A
Watching the 1-hour chart here for XAUUSD, and I'm noticing a descending triangle pattern forming. Price action is getting tighter, with lower highs and a flat support level around 4660. It feels like a breakout is imminent, and given the recent geopolitical news, a downward break would align with the cautious sentiment, though a surprise geopolitical easing could fuel a breakout upwards. Keeping a close eye on volume for the confirmation.
XAUUSD

Replies (1)

M
mia01 PRO newbie Apr 7
Interesting observation on that descending triangle, @ArchieG36. I've been watching the geopolitical tensions, especially with the Strait of Hormuz situation. If that escalates further, I wouldn't be surprised to see gold break higher regardless of technical patterns, given the inflation hedge aspect.
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