Gold FuturesShort
Gold 1 Futures ( GC1! ), H4 Potential for Bearish Continuation
Title: Gold 1 Futures ( GC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 57455
Pivot: 56476
Support: 55056
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. Expecting the price to possibly drop towards the support at 55056, where the 50% Fibonacci line is.
Alternative scenario: Price may head back up towards the resistance at 57455, which is the overlap of the recent swing high.
Fundamentals: There is no major news.
Type: Bearish Continuation
Resistance: 57455
Pivot: 56476
Support: 55056
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. Expecting the price to possibly drop towards the support at 55056, where the 50% Fibonacci line is.
Alternative scenario: Price may head back up towards the resistance at 57455, which is the overlap of the recent swing high.
Fundamentals: There is no major news.
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