Yesterday, we shared our analysis on BTC, which broke out of Channel Down pattern and through $65K resistance. (see blog)
Gold shares some similarities. Perhaps they’re both driven by the same catalyst: lower inflation (CPI) data, which could keep the FED from rate hikes and maybe even gradually lay the ground for rate cuts in 2027.
Lower interest rates are positive for crypto and gold as well, and negative for USD.
We have added Gold to our 50 other expert trade setups under Technical Analysis section.
Gold: Breakout from Falling Wedge
Price is in a Downtrend overall, down 26% from ATH of $5,612 on Jan 29.
However, price found support three times at $3,960 and there was a bullish breakout from a Falling Wedge pattern which could signal at least a temporary trend reversal.
Price could revisit $4,200 resistance where it's likely to get rejected and resume its Downtrend.
If instead it does break through $4,200 key level, that would make a Higher High and confirm the bullish trend reversal, with upside potential back to $4,350 or $4,550.
We first shared this analysis in our VIP telegram group and our Technical Analysis section.
We’re seeing more assets breaking out or the verge of breakout from Channel Down and Falling Wedge patterns, which are classic bullish trend reversal patterns:
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