Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Title: Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 1854.9
Pivot: 1827.7
Support: 1791.8
Preferred Case: Looking at the H4 chart, my overall bias for GC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. To add confluence to this bias, price is also along a descending trendline. Expecting price to possibly drop from the pivot at 1827.7 which is the overlap resistance before heading towards the support at 1791.8, where the overlap support and -61.8% Fibonacci expansion line is.
Alternative scenario: Price may head back up towards the resistance at 1854.9, which is the overlap resistance.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 1854.9
Pivot: 1827.7
Support: 1791.8
Preferred Case: Looking at the H4 chart, my overall bias for GC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. To add confluence to this bias, price is also along a descending trendline. Expecting price to possibly drop from the pivot at 1827.7 which is the overlap resistance before heading towards the support at 1791.8, where the overlap support and -61.8% Fibonacci expansion line is.
Alternative scenario: Price may head back up towards the resistance at 1854.9, which is the overlap resistance.
Fundamentals: There are no major news.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.