From TradingView · · 30s
Bearish Gold Outlook for Oct 19-23
Gold expected to drop below 4,000 as bearish analysis predicts decline.
In brief
Gold expected to drop below 4,000 as bearish analysis predicts decline. Gold prices likely fall to 3,981 by Oct 23 after bearish weekly analysis. Originally reported by TradingView.
Gold Price Analysis
Gold is trading around 4,168 and expected to drop below 4,290 resistance.
“Gold is trading around 4,168 and I expect sellers to stay in control below the 4,290 resistance”
Bearish Scenario 1
Corrective bounce toward 4,280 followed by rejection and drop to 3,981.
“A corrective bounce toward the 4,280 zone first, followed by a rejection and a drop toward 4,075”
Bearish Scenario 2
Direct decline targeting 4,000-3,980 without testing upper zone.
“Price continues lower directly without testing the upper zone, targeting the 4,000 - 3,980 area”
The key point
Gold prices likely fall to 3,981 by Oct 23 after bearish weekly analysis.
