Gold Market Analysis | Double Top Pattern,, 500+ Pips Target...

📉 XAUUSD Price Forecast 📉

Gold is at the top of an uptrend and has formed a Double Top reversal pattern. This indicates a potential bearish move, especially as the market is nearing a breakdown of the 200EMA and neckline of the pattern.

🔹 Technical Analysis:
Bearish Order Blocks:
💢2880 – After the neckline breakdown
💢2910 – After a retracement to resistance

✅ Target Range:
From the pattern height, the expected drop is 500+ pips.

🎯 Technical Target Levels:
〽️2862 – First support
〽️2842 – Second support
〽️2831 – Key level
〽️2812 – Critical breakdown point
〽️2774 – Final target after trendline breakdown

📢 Trading Insight:
Gold is showing strong bearish momentum, and after confirmation of the breakdown, holding short positions could yield high returns. Stay patient and follow the structure.

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Kind Regards, TrendLogic1 🚀