Gold shows a clear bearish trend within a well-defined downward channel. Price action continues to form lower highs and lower lows, reinforcing the ongoing downtrend. The recent rejection from $3,312 suggests that bulls are struggling to regain control, and the market remains pressured by selling momentum. The price is currently hovering near $3,287 just above horizontal support zone.
📉 Potential Scenarios
- Bearish Continuation (Most Likely)
- If price continues to stay below $3,300 and breaks below $3,281, it may aim for $3,261 and $3,249.
- A close below $3,281 would confirm further bearish pressure and signal downside continuation toward the $3,240s range.
- Short-Term Bullish Retracement
- If price holds above $3,281 and breaks above $3,300–$3,312, a relief rally may occur at first resistance: $3,306 and second resistance: $3,312.
- However, unless gold breaks above $3,332 (previous swing high), this would still be considered a bear market rally.
- Range-bound Movement
- A third scenario is sideways price action between $3,281 and $3,312, where neither bulls nor bears take control immediately. This would represent market indecision or awaiting external catalysts (e.g., economic data, Fed policy).
🔍 Trend Outlook
- Short-Term Trend: Bearish
- Medium-Term Trend: Bearish, unless price breaks and sustains above $3,312
- Long-Term Trend: Neutral-to-bullish, as long as price holds above the macro support zone near $3,240
1D Chart Long Term Possible Scenario
The price is currently trading around $3,285, sitting just above the triangle’s ascending trendline support and within a key horizontal demand zone around $3,250–$3,300, which has held multiple times in the past.
If bulls manage to push the price above $3,360–$3,400, it could confirm a breakout and open the door toward the next major resistance at $3,450. However, if price fails to hold above the current ascending trendline, a breakdown could retest the base support near $3,248 or even lower toward $3,150
Gold is currently in a neutral consolidation phase within a symmetrical triangle, with both bullish and bearish breakout scenarios possible. The breakout direction from this pattern—expected in the coming weeks, will likely set the tone for gold's medium-term trend.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
📉 Potential Scenarios
- Bearish Continuation (Most Likely)
- If price continues to stay below $3,300 and breaks below $3,281, it may aim for $3,261 and $3,249.
- A close below $3,281 would confirm further bearish pressure and signal downside continuation toward the $3,240s range.
- Short-Term Bullish Retracement
- If price holds above $3,281 and breaks above $3,300–$3,312, a relief rally may occur at first resistance: $3,306 and second resistance: $3,312.
- However, unless gold breaks above $3,332 (previous swing high), this would still be considered a bear market rally.
- Range-bound Movement
- A third scenario is sideways price action between $3,281 and $3,312, where neither bulls nor bears take control immediately. This would represent market indecision or awaiting external catalysts (e.g., economic data, Fed policy).
🔍 Trend Outlook
- Short-Term Trend: Bearish
- Medium-Term Trend: Bearish, unless price breaks and sustains above $3,312
- Long-Term Trend: Neutral-to-bullish, as long as price holds above the macro support zone near $3,240
1D Chart Long Term Possible Scenario
The price is currently trading around $3,285, sitting just above the triangle’s ascending trendline support and within a key horizontal demand zone around $3,250–$3,300, which has held multiple times in the past.
If bulls manage to push the price above $3,360–$3,400, it could confirm a breakout and open the door toward the next major resistance at $3,450. However, if price fails to hold above the current ascending trendline, a breakdown could retest the base support near $3,248 or even lower toward $3,150
Gold is currently in a neutral consolidation phase within a symmetrical triangle, with both bullish and bearish breakout scenarios possible. The breakout direction from this pattern—expected in the coming weeks, will likely set the tone for gold's medium-term trend.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
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Pubblicazioni correlate
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.