Ko Min Wai

Gold is currently showing a powerful long-term bullish structure on the higher timeframes.

Historically, gold tends to move in large expansion phases followed by long consolidation periods. Each time price breaks above a major accumulation zone, a strong rally usually follows.

In the chart, we can see two major accumulation ranges where gold consolidated for years before continuing its upward trend.

• First major consolidation: 1980s – early 2000s
• Second consolidation: roughly 2012 – 2019

After breaking above the second long-term resistance zone, gold has entered another strong expansion phase.

Right now price is trading far above the previous resistance, which has now turned into a major support zone.

If this historical structure continues, gold may see periods of pullbacks or consolidation above this support before potentially continuing its long-term upward trend.

Markets rarely move in straight lines, but the overall macro structure still suggests strong long-term momentum for gold as investors continue looking for hard assets during periods of economic uncertainty.
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