Gold Outlook – Potential Double-Top and Bearish Correction Ahead
Gold has reached a key resistance zone after a strong bullish leg. Based on current price action and the ascending trendline, two main scenarios stand out:
Scenario 1
Price may revisit the 4350 resistance and, if it fails to break above it, form a potential double-top pattern. This would increase the likelihood of a deeper correction.
Scenario 2
Gold could begin its pullback directly from the current area without printing a new high.
A confirmed break of the ascending trendline would be an early signal of bearish momentum.
In both scenarios, if short-term supports fail, the logical downside target for this correction sits around 3926.
This zone is expected to act as the first meaningful area for buyers to step in.
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