Gold has broken down from a clear bearish pennant on the 4H timeframe, signaling potential continuation of the recent correction from all-time highs.
🔸 Technical Outlook:
📉 Bearish Pennant confirmed with downside breakout
📉 Price breaks below Ichimoku Cloud support
🎯 Target zone near $3,035, based on pattern projection
🔻 Below key support at $3,287, bears are in control
🔸 Fundamentals:
📊 Stronger USD (as seen in DXY bounce) adds downward pressure
🏦 Markets reassessing Fed rate cut expectations
📉 Gold could face more short-term selling if risk sentiment improves
📌 Bias: Bearish below $3,287 — watching for continuation toward the $3,035 zone.
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🔸 Technical Outlook:
📉 Bearish Pennant confirmed with downside breakout
📉 Price breaks below Ichimoku Cloud support
🎯 Target zone near $3,035, based on pattern projection
🔻 Below key support at $3,287, bears are in control
🔸 Fundamentals:
📊 Stronger USD (as seen in DXY bounce) adds downward pressure
🏦 Markets reassessing Fed rate cut expectations
📉 Gold could face more short-term selling if risk sentiment improves
📌 Bias: Bearish below $3,287 — watching for continuation toward the $3,035 zone.
Must Support Me Share My Idea With Your Firends Mention Your Feed back Comment Section
Trade active
Trade Active:Sell position activated at $3,226 following bearish pennant breakdown. Monitoring price action toward targets at $3,260, $3,240, and $3,100 .
Note
Trade Active:Sell position activated at $3,226 following bearish pennant breakdown. Monitoring price action toward target$3,030
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For More Help
Telegram @Josh_trading
t.me/+rTQmlGBcbsk1YjI0
Our Channel
t.me/+sx2UuhofKsE4ODY0
Telegram @Josh_trading
t.me/+rTQmlGBcbsk1YjI0
Our Channel
t.me/+sx2UuhofKsE4ODY0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.