WILL #GOLD CONTINUE ITS BEARISH TREND?!
Hello, I hope you're doing well! 😊
If you haven’t seen the previous analysis on #GOLD, check it out. It’s interesting—we identified the drop exactly from the top, and since then, #GOLD has experienced a drop of over 6% and hit the full target. 📉🎯
But the question is, do we expect more drop? The answer is yes.
Following the previous analysis (which I’ll pin below), #GOLD can continue dropping to targets at 2527.060 and 2431.440. 📊📉
As long as it’s within the bearish channel on the 4-hour timeframe, this drop can be more powerful and sharper. If any growth happens, it would likely stop at the midline or the top of this channel as key resistances, after which we would enter the bearish phase again. 🔻🚫
However, if there’s an upward breakout of the bearish channel, it doesn’t turn bullish. We’d see more growth in the form of a correction before the continuation of the drop to the mentioned targets. 🔄📉
This growth (in case of an upward breakout) could stop around the slower bearish trendline or, at most, the resistance range between 2692.630-2712.840. 📈🛑
Only if #GOLD can break the 2712.840 resistance to the upside on the daily timeframe will it enter a bullish trend, aiming for new historical highs. 🚀💰
This is just my personal opinion and serves only as a complement to your own analysis. 📊💬
If you haven’t seen the previous analysis on #GOLD, check it out. It’s interesting—we identified the drop exactly from the top, and since then, #GOLD has experienced a drop of over 6% and hit the full target. 📉🎯
But the question is, do we expect more drop? The answer is yes.
Following the previous analysis (which I’ll pin below), #GOLD can continue dropping to targets at 2527.060 and 2431.440. 📊📉
As long as it’s within the bearish channel on the 4-hour timeframe, this drop can be more powerful and sharper. If any growth happens, it would likely stop at the midline or the top of this channel as key resistances, after which we would enter the bearish phase again. 🔻🚫
However, if there’s an upward breakout of the bearish channel, it doesn’t turn bullish. We’d see more growth in the form of a correction before the continuation of the drop to the mentioned targets. 🔄📉
This growth (in case of an upward breakout) could stop around the slower bearish trendline or, at most, the resistance range between 2692.630-2712.840. 📈🛑
Only if #GOLD can break the 2712.840 resistance to the upside on the daily timeframe will it enter a bullish trend, aiming for new historical highs. 🚀💰
This is just my personal opinion and serves only as a complement to your own analysis. 📊💬
Note
Hello everyone! 🌟
The plan from two days ago for #GOLD went really well. 📈
We predicted both the temporary growth and that the drop would start again from the middle-line or the upper boundary of this bearish channel on the 4-hour time frame. ⬇️
Exactly as per the plan, the drop started from the middle line of the channel and continued down to the lower boundary of the channel. 📉
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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.
Related publications
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.