Gold Bearish Crab Signals Potential Reversal!FX_IDC:XAUUSD
Gold is currently testing a critical resistance zone near $2,947, where a Bearish Crab harmonic pattern has formed. This structure suggests potential downside risk as price approaches exhaustion at this key level.
🔹 Technical Breakdown:
📌 Resistance: $2,956
📌 Bearish Crab PRZ (Potential Reversal Zone): $2,947
📌 Support Levels: $2,916 → $2,795
If gold fails to break and hold above $2,947, we could see a pullback toward $2,795, aligning with the monthly fractal resistance. However, a sustained move above $2,956 would invalidate the bearish scenario, potentially opening the door for further upside.
Happy Trading,
André Cardoso
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