Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Title: Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 1854.9
Pivot: 1827.7
Support: 1787.2
Preferred Case: Looking at the H4 chart, my overall bias for GC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Expecting price to possibly drop from the pivot at 1827.7 before heading towards the support at 1787.2, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 1854.9, which is the overlap resistance.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 1854.9
Pivot: 1827.7
Support: 1787.2
Preferred Case: Looking at the H4 chart, my overall bias for GC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Expecting price to possibly drop from the pivot at 1827.7 before heading towards the support at 1787.2, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 1854.9, which is the overlap resistance.
Fundamentals: There are no major news.