Gold Price Forming Bullish Triangle – Breakout Targeting 11% Ups

Pattern: The chart shows a Bullish Symmetrical Triangle (ABCDE structure) after a 5-wave rally.

Wave Count: Labeled as A–B–C–D–E consolidation within converging trendlines.

Current Position: Price is near point E, suggesting the triangle is close to completion.

Projection: A bullish breakout is expected after wave E.

Target:

Price: ~3,826.68 USD

Gain: +406.19 points (+11.88%)

Timeframe: ~29 days remaining (projection into September).

Volume: Moderate (~15.74K) during consolidation.

Technical Context:

Left inset shows a Bull Market triangle breakout schematic, indicating this setup aligns with a bullish continuation pattern.

The April correction (-11.9%) reset the trend, followed by the ongoing consolidation.

📌 Conclusion: Gold is forming a bullish continuation triangle and may rally ~11% toward 3,826 if the breakout occurs within the projected timeframe (about a month).