Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Title: Gold Futures ( GC1! ), H4 Potential for Bearish Continuation
Type: Bearish Continuation
Resistance: 1881.6
Pivot: 1863.5
Support: 1820.1
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 from the pivot at 1863.5 which is the overlap resistance towards the support at 1820.1, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 1881.6, which is the overlap resistance and minor high.
Fundamentals: There are no major news.
Type: Bearish Continuation
Resistance: 1881.6
Pivot: 1863.5
Support: 1820.1
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 from the pivot at 1863.5 which is the overlap resistance towards the support at 1820.1, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 1881.6, which is the overlap resistance and minor high.
Fundamentals: There are no major news.