Gold Still Dropping What I’m Watching This Week....

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Following my last update, gold price action continues to align with the bearish short-term outlook I projected. The weekly close on April 27, 2025, as seen in the chart, confirmed the bearish sentiment with a red candlestick, well below the recent highs and the golden Fibonacci zone (3380-3408). This reinforces that sellers remain in control.

Today, gold is still trading , below the golden Fib zone, which continues to act as a resistance. The price has not yet tested the first support level at 3150-3165, but the downward trajectory suggests it may approach this zone soon. If this support holds, we might see a temporary bounce; however, a break below 3150-3165 could accelerate the decline toward my target of 3000, as indicated by the chart projected path.
The weekly close below the recent swing highs and the failure to reclaim the golden Fib zone strengthen the bearish case. For the short term, I expect gold to continue its downward movement unless a significant reversal pattern emerges.

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Ghi chú

Going good

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Giao dịch đang hoạt động

breakdown from support now moving good