GOLD - Price can start to decline and break support level

kelmarin

Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊

Gold initially traded inside a steady falling channel, carving lower highs at $3390 and lower lows around $3285 as bears held sway.

A brief fake breakout at $3365 briefly flipped sentiment, but sellers quickly reasserted control and pushed price back toward the channel floor.

Buyers then absorbed selling at the $3285 support area, sparking a rebound into a rising wedge pattern marked by converging trendlines.

Within this wedge, three minor breakouts failed to trigger sustained rallies, underscoring persistent resistance near the upper boundary.

I anticipate Gold to roll over from the wedge’s ceiling and break below $3365, targeting the wedge’s lower support line at $3310

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11 jam lalu

Dagangan aktif

Great! Price started to decline, for this case, I expect that it can continue to fall next.