Gold is showing a potential Double Top pattern around the $3,450 level, indicating possible trend exhaustion after a strong bullish rally. Price has rejected the second top and broken below the neckline zone, confirming bearish intent. With Ichimoku cloud resistance and lower highs, momentum favors downside continuation.
🔸 Trend: Shift from bullish to corrective
🔸 Pattern: Double Top
🔸 Resistance Zone: $3,452 (Top 2 + Stop Out area)
🔸 Support Targets: $3,247 – $3,211
🔸 Indicators: Ichimoku cloud breakdown confirms weakness
🔸 Fundamentals: Gold facing pressure from rising real yields and potential Fed rate policy clarity
Outlook: A confirmed breakdown below $3,330 could trigger further downside, targeting the $3,211 support zone.
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Jul 14
🔸 Trend: Shift from bullish to corrective
🔸 Pattern: Double Top
🔸 Resistance Zone: $3,452 (Top 2 + Stop Out area)
🔸 Support Targets: $3,247 – $3,211
🔸 Indicators: Ichimoku cloud breakdown confirms weakness
🔸 Fundamentals: Gold facing pressure from rising real yields and potential Fed rate policy clarity
Outlook: A confirmed breakdown below $3,330 could trigger further downside, targeting the $3,211 support zone.
Note: If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
Jul 14
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