Most likely, $3,080 will be the top for Gold !🚀 GOLD at a Critical Turning Point? 🧐
Hello Traders 🐺,
If you take a closer look at the GOLD chart, you'll notice that it's approaching a major top ! In my opinion, somewhere between the current price and the 1.618 Fibonacci level (~$3,080) could be a prime take-profit zone . Here’s why:
1️⃣ Inverse Head & Shoulders Target Hit!
✅ The inverse head & shoulders pattern played out perfectly , reaching its target at $2,766 , which aligns with the 1.27 Fibonacci level.
✅ Price rejected that level, but I believe the final target is $3,080 (1.618 Fib) before we see a significant correction .
2️⃣ Strong Confluence at $3,080!
At the 1.618 Fib level , we have three major confluence factors coming together:
🔸 Bearish RSI Divergence – GOLD is showing signs of momentum loss.
🔸 AB=CD Pattern Completion – This is a strong reversal signal.
🔸 Key Psychological Resistance – Historically, GOLD reacts at such levels.
⚠️ What’s Next?
If GOLD reaches $3,080 , expect a strong rejection & potential correction phase . Smart traders will consider taking profits and waiting for the next big move.
🔽 Do you agree? Will GOLD break past $3,080 or is a reversal coming ? Let me know in the comments! 👇🔥
