📉 Market Structure:
Gold was moving in an ascending channel, but price has now broken below the support trendline.
This suggests a possible trend reversal or correction.
📌 Key Levels:
Resistance: $3,125 - $3,170
Support: $3,054 - $3,035
Target: $3,000 - $2,995
📊 Trade Idea:
A pullback to support-turned-resistance could give a short entry.
Bearish target: $3,000 if rejection holds.
Invalidation: If price reclaims $3,125.
🔍 Watch for:
Price reaction at the former channel support.
Possible retest before further drop.
Let me know if you need any modifications! 🚀
Gold was moving in an ascending channel, but price has now broken below the support trendline.
This suggests a possible trend reversal or correction.
📌 Key Levels:
Resistance: $3,125 - $3,170
Support: $3,054 - $3,035
Target: $3,000 - $2,995
📊 Trade Idea:
A pullback to support-turned-resistance could give a short entry.
Bearish target: $3,000 if rejection holds.
Invalidation: If price reclaims $3,125.
🔍 Watch for:
Price reaction at the former channel support.
Possible retest before further drop.
Let me know if you need any modifications! 🚀
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.
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.