GOLD falling in a parallel channel formation

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Gold price has been falling since yesterday as expectations of December rate cut fades away. It is forming a parallel falling channel pattern and has recently bounced from the lower zone.

Keep an eye on it as volatility is expected to stay and there will be ample opportunities to capture movements. Follow me for live updates.

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Gold picked up strength on Wednesday as global sentiment turned risk-off and the U.S. dollar cooled off a bit. With equity markets looking overstretched, traders are shifting back towards safe-haven assets.

🔹 The Fed’s recent rate cut is already priced in, but the probability of another cut in December has reduced, which is keeping volatility alive.
🔹 A slight dip in the dollar added support to gold buying sentiment.
🔹 Even in the current uncertainty, physical demand (especially from emerging market central banks) remains healthy — a reminder that gold still holds its safe-haven status.

📍 Technical View:
On the 15-minute chart, Gold is currently forming a falling wedge pattern (as marked in the attached chart). A breakout from this structure can trigger sharp intraday moves, so keep it on watch.

Volatility isn’t going anywhere — good opportunities will appear for both breakout and pullback traders.

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