Gold Bearish Setup Despite Market Optimism

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While U.S. indices jumped on Trump’s bullish call to “buy stocks now” and the announcement of a new U.S.–UK trade deal, gold is painting a different picture.

🔻 On the 2H chart, price has once again rejected the upper trendline of a well-defined descending channel, signaling potential continuation lower. Key confirmations:

Bearish RSI divergence 🟠

Bearish MACD crossover 🟠

📊 Technical Outlook
If this momentum holds, we’re watching for these potential take profit levels:

🎯 TP1: $3,250
🎯 TP2: $3,180
🎯 TP3: $3,100 — strong confluence with channel support

🛑 Invalidation above the channel resistance. Monitor for lower timeframe rejection to enter with better precision.

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