{"id":45553,"date":"2025-05-02T18:20:42","date_gmt":"2025-05-02T21:20:42","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2025\/05\/02\/gold-price-forecast-bearish-weekly-and-daily-patterns-point-lower\/"},"modified":"2025-05-02T18:20:42","modified_gmt":"2025-05-02T21:20:42","slug":"gold-price-forecast-bearish-weekly-and-daily-patterns-point-lower","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2025\/05\/02\/gold-price-forecast-bearish-weekly-and-daily-patterns-point-lower\/","title":{"rendered":"Gold Price Forecast: Bearish Weekly and Daily Patterns Point Lower"},"content":{"rendered":"

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Sellers Take Control<\/h2>\n

There are several reasons that selling pressure could accelerate following a drop below today\u2019s low. There is a bear pennant pattern that triggered yesterday, showing a potential target around $3,027. That decline put the price of gold back into a rising trend channel (blue) pattern. Once that happens there is the potential to eventually test the other side of the channel.<\/p>\n

This is particularly a risk when the return into the channel\u2019s price range follows a failed bullish breakout, which is the case with gold. Then, there is the failure to retain support at the 20-Day MA, which is now in process.<\/p>\n

Weekly Bearish Confirmation<\/h2>\n

The longer-term weekly pattern is also bearish as a reversal of a weekly shooting star candlestick pattern that formed last week triggered this week. A weekly closing today below last week\u2019s low of $2,260 will confirm the weekly signal. Since the lower target for gold looks to be around the pennant projection of $3,027, higher price zones may not hold as support.<\/p>\n

Next Potential Support at $3,168<\/h2>\n

Two areas of potential support stand out. The first is at the confluence of a prior trend high of $3,168 and the 61.8% Fibonacci retracement at $3,164. Notice that the top channel line (purple) for a larger rising trend channel is currently around that price area. Then, there is the 50-Day MA at $3,086 and the 78.6% retracement level at $3,073. That price zone is near the lower trendline for the blue rising channel.<\/p>\n

For a look at all of today\u2019s economic events, check out our\u00a0economic calendar<\/a>. <\/b><\/p>\n<\/div>\n

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[ad_1] Sellers Take Control There are several reasons that selling pressure could accelerate following a drop below today\u2019s low. There is a bear pennant pattern that triggered yesterday, showing a potential target around $3,027. That decline put the price of gold back into a rising trend channel (blue) pattern. Once that happens there is the potential to eventually test the other side of the channel. This is particularly a risk when the return into the channel\u2019s price range follows a failed bullish breakout, which is the case with gold. Then, there is the failure to retain support at the 20-Day MA, which is now in process. Weekly Bearish Confirmation The longer-term weekly pattern is also bearish as a reversal of a weekly shooting star candlestick pattern that formed last week triggered this week. A weekly closing today below last week\u2019s low of $2,260 will confirm the weekly signal. Since the lower target for gold looks to be around the pennant projection of $3,027, higher price zones may not hold as support. Next Potential Support at $3,168 Two areas of potential support stand out. The first is at the confluence of a prior trend high of $3,168 and the 61.8% Fibonacci retracement at $3,164. Notice that the top channel line (purple) for a larger rising trend channel is currently around that price area. Then, there is the 50-Day MA at $3,086 and the 78.6% retracement level at $3,073. That price zone is near the lower trendline for the blue rising channel. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":45554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-45553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/45553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=45553"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/45553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/45554"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=45553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=45553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=45553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}