📉 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! 
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.