Gold Ready to Fall: Bearish Move Expected
Updated
📉 Gold Bearish Short-Term Outlook
🔹 Price Targets:
🎯 Target 1: $2,610
🎯 Target 2: $2,586
🔹 Stop Loss: $2,646
📈 Why This Trade?
✅ Double Top Formation: A clear bearish reversal pattern suggests further downside movement.
✅ Strong U.S. Dollar: The strengthening dollar is putting pressure on gold prices.
✅ Rising Treasury Yields: The recent increase in U.S. Treasury yields makes gold less attractive compared to interest-bearing assets.
✅ Reduced Safe-Haven Demand: With easing geopolitical tensions, the demand for gold as a safe haven is weakening.
🔹 Price Targets:
🎯 Target 1: $2,610
🎯 Target 2: $2,586
🔹 Stop Loss: $2,646
📈 Why This Trade?
✅ Double Top Formation: A clear bearish reversal pattern suggests further downside movement.
✅ Strong U.S. Dollar: The strengthening dollar is putting pressure on gold prices.
✅ Rising Treasury Yields: The recent increase in U.S. Treasury yields makes gold less attractive compared to interest-bearing assets.
✅ Reduced Safe-Haven Demand: With easing geopolitical tensions, the demand for gold as a safe haven is weakening.
Trade active
Take Profit 1 has been reached. Targeting TP2 with positive stop loss. Enjoy the ride and congratulations! 
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