Here’s His Outlook for the $2987 Level

• Gold breaks its ascending trendline and continues lower, forming a consistent bearish price structure.
• Repeated price rejections near the $3030 resistance confirm that sellers firmly control momentum and direction.
• Price action steadily respects Fibonacci retracement zones, moving smoothly toward the $2987 support target.

Gold prices declined sharply after losing the ascending trendline, confirming a shift in market direction. The price structure now follows a disciplined bearish path, with consistent lower highs and lower lows developing.

Market Overview Shows Clear Momentum Shift and Downtrend Confirmation

The Gold price movement confirmed bearish momentum after failing to sustain above critical resistance levels. Repeated lower highs and lows defined a dominant selling environment. Buyers attempted rebounds but lacked strength against the persistent downward pressure.

According to market analyst Trader Tardigrade, XAU/USD broke its ascending trendline, signaling a decisive transition toward bearish control. He observed a retest of the $3030 level, where previous support turned into confirmed resistance. This failed retest drove price action lower and validated the bearish direction.

Source: Trader Tardigrade

The assessment from Tardigrade outlined a target near the Fibonacci 0.382 retracement at $2987. His analysis emphasized that price action respected technical structures after the breakdown. Each failed attempt to reclaim $3030 strengthened the bearish momentum toward the identified target zone.

Insights from market researcher Trader Tardigrade provided additional confirmation of market structure. He reported consecutive lower highs forming during the descent, reinforcing the ongoing bearish trend. His findings also noted the absence of bullish reversal signals, allowing sellers to maintain consistent control.

Market Analysis Confirms Bearish Control and Adherence to Technical Patterns

In line with Trader Tardigrade’s analysis, price movements adhered to the descending structure following the trendline break. Pullbacks consistently failed near $3030, reinforcing the resistance zone he identified. Lower lows continued to develop without deviation from his anticipated bearish path.

Supporting Trader Tardigrade’s observations, the price decline progressed steadily toward the $2987 target. Candlestick formations remained disciplined, showing no large bullish interruptions. His emphasis on persistent rejections along the trendline proved accurate throughout the price descent.

Each lower high confirmed his conclusion that selling pressure remained dominant. The chart displayed no bullish engulfing candles, supporting his observation of continued bearish control. Failure to break through $3030 resistance confirmed the structural reversal he anticipated.

Price action maintained alignment with Tardigrade’s trading setup. The market followed the Fibonacci retracement he highlighted, with prices moving toward the $2987 level. His analysis of sustained downward momentum remains evident in the current chart behavior.