Gold Price Analysis: Bearish Breakdown Below Key Support at 2888
Gold (XAU/USD) has broken below the strong support level of 2888, indicating a potential continuation of the downtrend. This breakdown suggests increasing bearish momentum, and traders should be prepared for further declines.
Downtrend Scenario & Targets
If the bearish pressure continues, gold is likely to move toward the following downside targets:
✅ Target 01: 2866 – A minor support level where price may consolidate before further movement.
✅ Target 02: 2855 – A stronger support zone that could act as a temporary stopping point for sellers.
✅ Target 03: 2835 – A key demand zone, where buyers may step in to slow the decline.
Possible Retracement Before Further Drop
Despite the bearish outlook, gold may experience a temporary pullback before continuing lower. A retracement toward the previous support-turned-resistance at 2888 or even 2898 is possible. If the price fails to break above these levels, it could serve as confirmation for further downside movement.
Trading Strategy Considerations
🔸 Sell on Retracement: If gold retraces to 2888 or 2898 and shows rejection (bearish candlestick patterns, wicks, or resistance confirmation), it could provide a good short-selling opportunity.
🔸 Break & Retest Confirmation: If gold retests 2888 and fails to break above, it would signal further downside movement.
🔸 Risk Management: Set stop-loss above 2900 to manage risk in case of unexpected bullish reversals.
Downtrend Scenario & Targets
If the bearish pressure continues, gold is likely to move toward the following downside targets:
✅ Target 01: 2866 – A minor support level where price may consolidate before further movement.
✅ Target 02: 2855 – A stronger support zone that could act as a temporary stopping point for sellers.
✅ Target 03: 2835 – A key demand zone, where buyers may step in to slow the decline.
Possible Retracement Before Further Drop
Despite the bearish outlook, gold may experience a temporary pullback before continuing lower. A retracement toward the previous support-turned-resistance at 2888 or even 2898 is possible. If the price fails to break above these levels, it could serve as confirmation for further downside movement.
Trading Strategy Considerations
🔸 Sell on Retracement: If gold retraces to 2888 or 2898 and shows rejection (bearish candlestick patterns, wicks, or resistance confirmation), it could provide a good short-selling opportunity.
🔸 Break & Retest Confirmation: If gold retests 2888 and fails to break above, it would signal further downside movement.
🔸 Risk Management: Set stop-loss above 2900 to manage risk in case of unexpected bullish reversals.
Trade active
Trade closed: target reached
ALL Targets Reached 
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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.
Join My Telegram Channel for Signals and Technical Charts
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
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.