Gold Poised for a Breakout: A Long Setup Amidst Sideways Consolidation

The Current XAU/USD Landscape

Good morning, KoraFX community! Isha Reddy here, looking at XAU/USD as always. Gold has been trading sideways recently, reflecting a period of consolidation. The current price stands at 2916.97, after a slight dip of -0.1% over the last 24 hours. We've seen the day range oscillate between 2912.43 and 2921.51, indicating that while there's been some choppiness, neither buyers nor sellers have taken definitive control. However, I believe we are at a pivotal point. The immediate support at 2912.