While U.S. indices jumped on Trump’s bullish call to “buy stocks now” and the announcement of a new U.S.–UK trade deal, gold is painting a different picture.
🔻 On the 2H chart, price has once again rejected the upper trendline of a well-defined descending channel, signaling potential continuation lower. Key confirmations:
Bearish RSI divergence 🟠
Bearish MACD crossover 🟠
📊 Technical Outlook
If this momentum holds, we’re watching for these potential take profit levels:
🎯 TP1: $3,250
🎯 TP2: $3,180
🎯 TP3: $3,100 — strong confluence with channel support
🛑 Invalidation above the channel resistance. Monitor for lower timeframe rejection to enter with better precision.
🔻 On the 2H chart, price has once again rejected the upper trendline of a well-defined descending channel, signaling potential continuation lower. Key confirmations:
Bearish RSI divergence 🟠
Bearish MACD crossover 🟠
📊 Technical Outlook
If this momentum holds, we’re watching for these potential take profit levels:
🎯 TP1: $3,250
🎯 TP2: $3,180
🎯 TP3: $3,100 — strong confluence with channel support
🛑 Invalidation above the channel resistance. Monitor for lower timeframe rejection to enter with better precision.
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.
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.