After weeks of consolidation and multiple failed attempts to break higher, gold has finally broken down with strong momentum. We’re seeing: Clean break below the recent range lows
Acceleration to the downside with increasing volume
Price rejecting the blue moving average from below
Clear lower highs and lower lows structure
This move looks impulsive.
The next major support zone sits around $4,300 – $4,200. A daily close below $4,300 could open the door for a deeper correction.
Current bias: Bearish in the short to medium term until we see strong bullish reversal signals.
What do you think — is this the start of a bigger correction in gold, or just a healthy pullback?
Drop your thoughts below
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