Gold’s Strong Reversal at ATH Zone – What’s Next?

📉 Sharp Drop from ATH – Key Market Reaction
🔥 Gold saw a strong rejection at the previous ATH zone, which we had highlighted earlier.
📌 The price dropped nearly 70 points, falling back below 2880 – marking the biggest drop in a month.
🛑 A double-top pattern has formed on the H4 timeframe, with strong bearish confirmation.

🏛 Fundamental Insights: PCE Data in Focus
📊 Recent economic reports like CPI & PPI suggest that the upcoming PCE inflation data (collected by the U.S. government) remains crucial.
📈 If the data supports a stronger USD, a correction in gold is highly expected, especially after its strong bullish momentum.

📅 What to Expect on Monday?
⚠️ There is a high probability of a price gap at the market open due to:
🔸 Weekend liquidity shortages 📉
🔸 Profit-taking from previous highs 💰
🔸 Buyers waiting for better re-entry levels 📍

➡️ We could see an initial bullish gap followed by a retracement during the Asian session.

📊 Trading Plan: Short-Term Bearish Bias
✅ Sell setups are favorable in the short term.
📌 Key support & resistance levels for next week will be posted in tomorrow’s update.
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💬 What’s your view on gold? Comment below! 👇