In the short term over a 15-minute window, gold has still not broken out of the downside despite the afternoon and the European session; instead, it’s fluctuating within an even narrower range. The price has moved lower at higher levels, forming a descending triangle range.
Although descending triangle ranges generally have a higher probability of breaking upward, the evening U.S. session still cannot rule out an accelerated breakdown below the 4040 support, accelerating to probe 4020 as the next support, and consolidating within a triangle range on a larger timeframe. $XAUUSD
Although descending triangle ranges generally have a higher probability of breaking upward, the evening U.S. session still cannot rule out an accelerated breakdown below the 4040 support, accelerating to probe 4020 as the next support, and consolidating within a triangle range on a larger timeframe. $XAUUSD
