Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Title: Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 1877.7
Pivot: 1864.3
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 1877.7, which is the overlap resistance.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 1877.7
Pivot: 1864.3
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 1877.7, which is the overlap resistance.
Fundamentals: There are no major news.