Today’s upside move in gold appears to have been driven mainly by headlines surrounding a potential agreement. However, larger market participants may remain cautious, as inflation risks could keep interest rates elevated and limit the amount of liquidity available to flow into financial markets.
This environment may prevent strong institutional demand from returning to gold in the near term, allowing the corrective phase to continue.
From a technical perspective, the 15-minute chart shows a clear compression structure. Price now appears to have broken below that formation, which supports the bearish continuation scenario.
The preferred outlook is for gold to extend the correction and move lower toward the open gap. This bearish setup remains valid unless price recovers back above the broken structure and invalidates the downside breakout.
This environment may prevent strong institutional demand from returning to gold in the near term, allowing the corrective phase to continue.
From a technical perspective, the 15-minute chart shows a clear compression structure. Price now appears to have broken below that formation, which supports the bearish continuation scenario.
The preferred outlook is for gold to extend the correction and move lower toward the open gap. This bearish setup remains valid unless price recovers back above the broken structure and invalidates the downside breakout.
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