XAUUSD – Bearish Crab hints at a corrective wave
Gold is facing pressure as the USD strengthens and Treasury yields move higher, dampening expectations for near-term rate cuts. With safe-haven demand losing momentum, profit-taking has started to surface after the recent sharp rally.
On the H4 timeframe, price action has completed a Bearish Crab harmonic pattern right at a critical extension zone, with early reversal signals showing up near 3,550. This increases the likelihood of a corrective phase unfolding in the short term.
Price zones in focus:
Resistance: 3,540–3,555
First support area: 3,475–3,450
Next support area: 3,350–3,330
Deeper support zone: 3,290–3,270
Momentum now favors the bears in the short term. Any rebounds should be seen as potential entry points for sellers.
Do you expect gold to hold at the first support, or extend deeper into the lower zones?
Gold is facing pressure as the USD strengthens and Treasury yields move higher, dampening expectations for near-term rate cuts. With safe-haven demand losing momentum, profit-taking has started to surface after the recent sharp rally.
On the H4 timeframe, price action has completed a Bearish Crab harmonic pattern right at a critical extension zone, with early reversal signals showing up near 3,550. This increases the likelihood of a corrective phase unfolding in the short term.
Price zones in focus:
Resistance: 3,540–3,555
First support area: 3,475–3,450
Next support area: 3,350–3,330
Deeper support zone: 3,290–3,270
Momentum now favors the bears in the short term. Any rebounds should be seen as potential entry points for sellers.
Do you expect gold to hold at the first support, or extend deeper into the lower zones?
Trade active
Related publications
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.
Related publications
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.