Gold Bearish Crab Signals Potential Reversal!

XAUUSD

Gold is currently testing a critical resistance zone near $2,947, where a Bearish Crab harmonic pattern has formed. This structure suggests potential downside risk as price approaches exhaustion at this key level.

🔹 Technical Breakdown:
📌 Resistance: $2,956
📌 Bearish Crab PRZ (Potential Reversal Zone): $2,947
📌 Support Levels: $2,916 → $2,795

If gold fails to break and hold above $2,947, we could see a pullback toward $2,795, aligning with the monthly fractal resistance. However, a sustained move above $2,956 would invalidate the bearish scenario, potentially opening the door for further upside.

Happy Trading,
André Cardoso

Risk Warning: Trading financial assets carries a high level of risk and may result in the loss of all your capital. Make sure to fully understand the risks involved before you start trading and carefully consider your investment objectives, level of experience, and risk tolerance. The data and information provided in this content do not constitute financial or investment advice and should not be considered as such. Only invest what you can afford to lose, and be aware of the risks associated with trading financial assets.