Gold Breaks Down on Descending Triangle, Sets Up $4k Test - StoneX
Gold Breaks Down on Descending Triangle, Sets Up $4k Test - StoneX
Source: StoneX
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DW NOTE
StoneX calls $4,000 gold on a descending triangle while the Strait of Hormuz sits effectively closed and the Fed just hiked to 3.75–4%. The pattern is real — gold is down 21.7% from January's $5,318 high — but the breakdown is happening into the most structurally inflationary setup in a generation. Either the technicals are wrong or the market is pricing a ceasefire that hasn't been announced.