Gold Price Flashes Warning at $4,700: A Major Crash Coming?
BeInCrypto
Gold is currently consolidating within a narrow range, with market participants awaiting a breakout following its recent corrective phase.Summary
Gold (XAU/USD) is currently stuck in a consolidation phase, testing support at $4,650 after failing to breach $4,772. Technical indicators on both daily and 4-hour charts suggest a neutral market stance as the asset trades within a symmetrical triangle. Analysts note that while the long-term macro trend remains bullish, the immediate price action is cautious; a failure to hold the $4,650 level could lead to further declines toward $4,376, whereas a move above $4,800 is required to invalidate the local bearish bias and resume upward momentum.
(Source：BeInCrypto)