Title: Gold Futures ( GC1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1975.2
Pivot: 1917.7
Support: 1836.9
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 price to possibly drop towards the support at 1836.9, where the overlap support is.
Alternative scenario: Price may head back up towards the pivot at 1917.7, where the overlap resistance and 38.2% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 1975.2
Pivot: 1917.7
Support: 1836.9
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 price to possibly drop towards the support at 1836.9, where the overlap support is.
Alternative scenario: Price may head back up towards the pivot at 1917.7, where the overlap resistance and 38.2% Fibonacci line is.
Fundamentals: There are no major news.
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.