Gold Price Analysis: Bearish Breakdown Below Key Support at 2888

27 Şub

Gold (XAU/USD) has broken below the strong support level of 2888, indicating a potential continuation of the downtrend. This breakdown suggests increasing bearish momentum, and traders should be prepared for further declines.

Downtrend Scenario & Targets
If the bearish pressure continues, gold is likely to move toward the following downside targets:
✅ Target 01: 2866 – A minor support level where price may consolidate before further movement.
✅ Target 02: 2855 – A stronger support zone that could act as a temporary stopping point for sellers.
✅ Target 03: 2835 – A key demand zone, where buyers may step in to slow the decline.

Possible Retracement Before Further Drop
Despite the bearish outlook, gold may experience a temporary pullback before continuing lower. A retracement toward the previous support-turned-resistance at 2888 or even 2898 is possible. If the price fails to break above these levels, it could serve as confirmation for further downside movement.

Trading Strategy Considerations
🔸 Sell on Retracement: If gold retraces to 2888 or 2898 and shows rejection (bearish candlestick patterns, wicks, or resistance confirmation), it could provide a good short-selling opportunity.
🔸 Break & Retest Confirmation: If gold retests 2888 and fails to break above, it would signal further downside movement.
🔸 Risk Management: Set stop-loss above 2900 to manage risk in case of unexpected bullish reversals.

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ALL Targets Reached