GOLD: The Perfect Bearish Alignment Has Formed

The current gold price is in a technical pattern characterized by a rebound from a bottom and wide-range volatility.

On the H4 chart, the moving averages have formed a very standard and perfect bearish alignment.

Even if gold prices rebound, the upside will be extremely limited, as the resistance zone at $4,345–$4,350 will act as an insurmountable barrier.

A break below yesterday’s low of $4,311 will trigger a technical sell-off, with downside potential extending directly to $4,250 or even near $4,200.

For today, firmly execute “sell on rallies” and “chase shorts on breakouts”; under no circumstances should you blindly try to catch the bottom by going long.

Strategy: Sell: 4,345–4,348 TP: 4,318–4,315 SL: Above 4,360

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On the H4 chart, the moving averages have formed a very standard and perfect bearish alignment. Even if gold prices rebound, the upside will be extremely limited, as the resistance zone at $4,345–$4,350 will act as an insurmountable barrier. A break below yesterday’s low of $4,311 will trigger a technical sell-off, with downside potential extending directly to $4,250 or even near $4,200. For today, firmly execute “sell on rallies” and “chase shorts on breakouts”; under no circumstances should you blindly try to catch the bottom by going long. 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