Gold Market Analysis | Double Top Pattern

5 giorni fa

Gold is at the top of an uptrend and has formed a Double Top reversal pattern. This indicates a potential bearish move, especially as the market is nearing a breakdown of the 200EMA and neckline of the pattern.

Technical Analysis:
Bearish Order Blocks:
2880 – After the neckline breakdown
2910 – After a retracement to resistance

Target Range:
From the pattern height, the expected drop is 500+ pips.

Technical Target Levels:
2862 – First support
2842 – Second support
2831 – Key level
2812 – Critical breakdown point
2774 – Final target after trendline breakdown

Trading Insight:
Gold is showing strong bearish momentum, and after confirmation of the breakdown, holding short positions could yield high returns. Stay patient and follow the structure.

3 giorni fa

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