Gold Breakout From Converging Triangle Key SupportLevel to Watch

1 wrz

Gold (XAUUSD) has successfully broken out of the converging triangle pattern, showing strong bullish momentum. Price action confirmed multiple BOS (Break of Structure) points, followed by a clean breakout rally toward the $3,470+ zone.

Currently, price is consolidating near the highs. If buyers fail to hold this level, we may see a healthy pullback into the support zone at $3,420 – $3,400. A deeper correction could retest the major support level near $3,320 before continuing the bullish trend.

📊 Key Technicals:

Pattern: Converging Triangle ✅

Breakout: Confirmed with BOS

Immediate Support Zone: $3,420 – $3,400

Major Support Level: $3,320

Upside target (if bullish momentum continues): $3,500+

Watch for a retest of the broken resistance (now acting as support).

Possible dip-buying opportunities around support zones.

Bullish bias remains valid as long as $3,320 support holds

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