Similarly, the short formation of ascending triangle from October to December 2025 indicated a quick move after the breakout from $4,400. However, when the price reached $5,400, it spiked above this level but quickly reversed back to form strong support at $4,400, which was the support of the previous triangle.
However, the emergence of a bullish hammer above $4,400 indicates that the price will likely keep the bullish move. Based on these patterns, the price will likely form another bullish price pattern below $5,600, which will result in the next bullish move. Therefore, consolidation below $5,600 will develop before the next breakout. This pattern indicates that the next breakout from $5,600 will likely take gold prices above $6,000 in the next few months.
This bullish price action is also observed on the weekly chart below. The patterns show that the price broke the ascending broadening wedge pattern at $4,500. After the breakout, the price spiked to $5,600. However, the drop from $5,600 to $4,400 has halted at the ascending broadening wedge line.
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