Gold (XAU/USD) continues to show a bearish bias, with indications of further downside potential. This outlook is reinforced by the formation of a double top pattern, a well-known technical signal for trend reversal to the downside.
In addition, the price remains below the previous key resistance level, signaling that selling pressure is still dominant. The presence of a downward-sloping trendline further supports the bearish scenario, increasing the likelihood of continued weakness in the near term.
Recommendation:
- Sell XAU/USD
- Entry: 3318
- Take Profit 1: 3310
- Take Profit 2: 3302
- Stop Loss: 3326
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