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Gold (XAU/USD) Price Forecast: Bullish Breakout Falters After Bearish Reversal Signal
Gold broke out of an 18-day consolidation zone on Monday, followed by an initial breakout of a bull pennant pattern on Tuesday. A pennant breakout triggered above the top boundary line of the triangle pattern and it was confirmed by a daily close above the line. However, a breakout above the most recent swing high of $3,451 will be needed to further confirm the bull breakout. A rise above the trendline provides a signal but not necessarily a reliable one. That is evidenced today, Wednesday, as a brief new high of $3,439 was established before sellers took control and drove the price down to a low for the day of ... (full story)
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- Jul 23, 2025 6:35pm Posted byTechnical Analysis1521
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