XAU/USD - Gold's Narrowing Pattern - Textbook development

#XAU/USD#

A decisive breakout in April 2024 started a massive Upward Super Trend.
The Bullish Trend was tested in Dec 2024, August 2025, and quite recently, on March 23,2026 - the sudden spike down almost touched the TrendLine support.

From late January 2026 till mid April 2026, GOLD has established two pivot points:
PV1 at 5600$ and PV2 at 5380$, with probable PV3 at 4890$
And though the lower highs have been made, it is just a temporary tightening.
For the bullish trend, it is a normal development—to run up, then retrace, form a pattern, then continue the trend until a major shift happens in the trend.

Significant technical points:

• MA200 - the price is way above it. Moreover(!), the Mar 2026 dip just bounced back from the MA200 at 4099!
  
• The upper resistance line made by the Two Pivot Points and the Major Trendline is forming a tightening pattern—a triangle or wedge.
  
• The price will vacillate in a tight formation, probably shooting up afterward.
  
• The apex is clear at 4330$