Gold Trap Unveiled: Bears Prepare for a Drop
Gold (XAU/USD) has shown strong bullish momentum followed by a consolidation phase. The price is forming a double top, which suggests exhaustion in the upward movement.
A potential reversal is in play, with the projected path indicating a significant drop towards the key support level of 2,650.
The price action suggests that sellers may regain control after failing to break higher, leading to a sharp decline.
A potential reversal is in play, with the projected path indicating a significant drop towards the key support level of 2,650.
The price action suggests that sellers may regain control after failing to break higher, leading to a sharp decline.
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