Gold (XAU/USD) Symmetrical Triangle Break Imminent?

Chart Analysis:

Gold is currently consolidating within a symmetrical triangle, signaling a potential breakout in either direction as the apex approaches.

1️⃣ Key Levels:

Resistance: $2,670 (upper triangle boundary).
Support: $2,590–$2,600 (lower triangle boundary).

2️⃣ Moving Averages:

50-day SMA (blue): At $2,655, acting as immediate dynamic resistance.
200-day SMA (red): At $2,493, indicating long-term bullish bias.

3️⃣ Momentum Indicators:

RSI: At 49.77, neutral, suggesting indecision in market direction.
MACD: Bearish divergence persists, but momentum is stabilizing.

What to Watch:

A break above $2,670 could signal a bullish continuation toward $2,750–$2,800.

A breakdown below $2,590 would expose $2,500 or lower levels.

Conclusion:
The symmetrical triangle highlights a period of consolidation. Monitor for a confirmed breakout with strong volume to determine the next directional move.