Title: Gold Futures ( GC1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1975.2
Pivot: 1917.7
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 pivot at 1917.7, where the overlap resistance and 38.2% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 1975.2
Pivot: 1917.7
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 pivot at 1917.7, where the overlap resistance and 38.2% Fibonacci line is.
Fundamentals: There are no major news.