Gold Breaking Down – Rising Channel + Wedge Breakdown
Description:
Gold has broken down from a rising channel on the daily timeframe and a rising wedge on the weekly, signaling a possible intermediate correction.
Key Observations:
- Momentum divergence on RSI, MACD, EFI
- Bearish volume supporting the move
- Price now below 20 EMA, approaching 50 EMA
- Weekly wedge failure after a secondary test of highs
Macro Drivers:
- Lower inflation
- Stable USD
- Dovish Fed stance
- Middle East tension cooled
- Gold appears overpriced on relative terms
Trade Setup:
🔻 Breakdown: ₹97,500
🎯 Targets: ₹92,000 → ₹87,000
🛑 Stoploss: ₹1,00,560 (near ATR and resistance)
🧠 Bearish bias short-term unless macro changes again.
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免责声明
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.