$XAUT (Gold) – Technical Outlook
Gold is respecting a clean descending triangle / bearish structure with multiple lower highs rejecting the trendline. Each rally into resistance has attracted sellers, showing that bearish pressure remains in control. Descending triangle patterns are generally considered bearish until a confirmed breakout occurs
As long as price remains below the descending trendline, I'm watching for another rejection and a potential move toward the 3,720 support zone. A daily close above resistance would invalidate the bearish setup.
Trend is simple:
Lower Highs → Seller Control → Watch the Breakdown
Gold is respecting a clean descending triangle / bearish structure with multiple lower highs rejecting the trendline. Each rally into resistance has attracted sellers, showing that bearish pressure remains in control. Descending triangle patterns are generally considered bearish until a confirmed breakout occurs
As long as price remains below the descending trendline, I'm watching for another rejection and a potential move toward the 3,720 support zone. A daily close above resistance would invalidate the bearish setup.
Trend is simple:
Lower Highs → Seller Control → Watch the Breakdown