Title: Gold Futures ( GC1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 1902.3 Pivot: 1912.5 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 resistance at 1902.3, where the recent high is.