This 4H gold chart shows a clear bearish structure, with price breaking below a key trendline and forming lower highs. The previous support zone has turned into a potential resistance, indicating sellers are in control. A corrective retest toward the 3260–3300 zone is possible, but unless price breaks back above the trendline decisively, the downtrend remains intact. The Ichimoku cloud reinforces the bearish outlook, as price is trading below it with expanding bearish momentum. Short-term downside targets are set at 3193 (1st target) and 3155 (2nd target), aligning with previous demand zones that may act as support. This setup favors looking for rejection signals near the retest zone to join the bearish move.
NOTE: if the market fails to retest the broken support-turned-resistance zone around 3260–3300 and instead continues to print lower highs and break short-term lows, that signals strong bearish momentum without the need for a pullback. This often indicates urgency from sellers and could lead to a faster move toward the 1st and even 2nd target zones (3193 and 3155). In such cases, any minor consolidation or flag below the broken trendline can offer a continuation entry opportunity
NOTE: if the market fails to retest the broken support-turned-resistance zone around 3260–3300 and instead continues to print lower highs and break short-term lows, that signals strong bearish momentum without the need for a pullback. This often indicates urgency from sellers and could lead to a faster move toward the 1st and even 2nd target zones (3193 and 3155). In such cases, any minor consolidation or flag below the broken trendline can offer a continuation entry opportunity
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🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
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Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.