1. Weakness at Support Zone (Bearish Risk)
The price is hovering around the identified demand zone (blue box), but buyers are not showing strong defense yet. If this zone breaks, we could see a deeper correction toward $2,840 - $2,800, invalidating the bullish projection.
The dotted red line suggesting an immediate bounce might be premature without a bullish confirmation candle or volume spike.
2. Trendline Breach (Bearish Confirmation)
The ascending trendline (starting from February lows) has already been broken and retested. This typically signals a trend reversal or deeper pullback.
If price remains below this trendline, the bullish continuation becomes less probable.
3. Possible Bear Flag Formation (Bearish Pattern)
The recent sideways action (consolidation within the demand zone) could be forming a bear flag, which is a continuation pattern for a move down.
A breakdown below $2,860 (flag bottom) would confirm this bearish pattern, targeting potentially $2,800 or lower.
4. Momentum Shift
RSI/MACD (if checked) may show bearish divergence from recent highs or weakening momentum, suggesting buyers are losing control.
Alternative Bearish Scenario (Disruption Path):
If price breaks and closes below $2,860 - $2,840:
Short-term target: $2,800 - $2,760.
Invalidates bullish target of $3,000 for now
The price is hovering around the identified demand zone (blue box), but buyers are not showing strong defense yet. If this zone breaks, we could see a deeper correction toward $2,840 - $2,800, invalidating the bullish projection.
The dotted red line suggesting an immediate bounce might be premature without a bullish confirmation candle or volume spike.
2. Trendline Breach (Bearish Confirmation)
The ascending trendline (starting from February lows) has already been broken and retested. This typically signals a trend reversal or deeper pullback.
If price remains below this trendline, the bullish continuation becomes less probable.
3. Possible Bear Flag Formation (Bearish Pattern)
The recent sideways action (consolidation within the demand zone) could be forming a bear flag, which is a continuation pattern for a move down.
A breakdown below $2,860 (flag bottom) would confirm this bearish pattern, targeting potentially $2,800 or lower.
4. Momentum Shift
RSI/MACD (if checked) may show bearish divergence from recent highs or weakening momentum, suggesting buyers are losing control.
Alternative Bearish Scenario (Disruption Path):
If price breaks and closes below $2,860 - $2,840:
Short-term target: $2,800 - $2,760.
Invalidates bullish target of $3,000 for now
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
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.
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
IF YOU WANT TO KILL GOLD MARKET SO JOIN OUR CHANNEL NOW
TP AND SL DAILY 100% CONFIRM SIGNAL 0 ℅ RISK
t.me/Master_Of_Goldd
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.