The market printed a sharp weekly reversal bar, pulling back from its all-time highs and sliding down into the 4500 area. Whenever we see a market transition from a massive breakout to a deep pullback it forces the question: is this a trend reversal, or just a deep retracement within a broader trading range? The weekly chart shows price continuing to chop and coil the moving average. Price has mainly hovered between 4500-4900 for the past 9 weeks.
The daily chart put in a massive breakdown on Friday, plummeting below 4550 and erasing the week’s earlier gains. This is a clear sign that the market has transitioned from a bull channel into a tight trading range, and bears are finally demonstrating control. The daily chart went from always in long to always in short by printing consecutive bear bars during the last 4 sessions. This bear streak occurred despite the bulls holding strong on Monday.
Whenever a market spends too much time stalling near a major psychological level without strong, decisive follow-through it invites profit taking. The failure of the bulls to break out cleanly into a measured move, left the market vulnerable to a reversal.
Right now, the chart is telling us that the bears have taken control of the near-term momentum.\u00a0<\/p>\n\n\n\n
The Weekly<\/em> Gold chart<\/h3>\n\n\n\n![\"Gold](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/05\/Gold-GC-mini-Weekly-Nine-Weeks-in-a-Sideways-Market-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Sellers waiting just above the previous week’s bull bar.<\/li>\n\n\n\n
- Overlapping bars are a trading range signature.<\/li>\n\n\n\n
- 3 of the past 4 bars are bearish.<\/li>\n\n\n\n
- Sellers want to put in another bear bar to flip the market always in short.\u00a0<\/li>\n\n\n\n
- Bears and bulls want to break out of the trading range, likely creating a measured move based on the range.<\/li>\n\n\n\n
- Bears finding value selling along the bottom trendline created by the previous bull channel.
Potential triangle forming.<\/li>\n\n\n\n - Price continues to test the pivot of October 2025.<\/li>\n\n\n\n
- Ideally the bears would send price back to previous triangle peaks of the 4125 and 3508 areas. The apex of a triangle acts like a price magnet.<\/li>\n\n\n\n
- Bears are trying to create a lower high whose climax would be the week of April 17th, 2026.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> Gold chart<\/h3>\n\n\n\n![\"Gold](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/05\/Gold-GC-mini-Daily-Determined-Bears-Keep-Price-Ranging-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Price continues to range between the 200 and 20 moving averages. <\/li>\n\n\n\n
- Bears did a great job keeping the ball in their court.<\/li>\n\n\n\n
- Always in short.<\/li>\n\n\n\n
- The past 4 consecutive days were bear bars.<\/li>\n\n\n\n
- Significant tails beneath bear bodies show determined bulls trying to prevent a runaway downward trend.<\/li>\n\n\n\n
- Bulls defended the previous neck line, preventing a lower low.\u00a0<\/li>\n\n\n\n
- Bears potentially creating a lower high.<\/li>\n\n\n\n
- Bears were able to close 3 out of 5 bars of the past week beneath the moving average.<\/li>\n\n\n\n
- Friday’s bear bar closed decisively beneath the moving average.<\/li>\n\n\n\n
- Potential inverse cup and handle pattern being formed.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- Sellers waiting just above the previous week’s bull bar.<\/li>\n\n\n\n
- Overlapping bars are a trading range signature.<\/li>\n\n\n\n
- 3 of the past 4 bars are bearish.<\/li>\n\n\n\n
- Sellers want to put in another bear bar to flip the market always in short.\u00a0<\/li>\n\n\n\n
- Bears and bulls want to break out of the trading range, likely creating a measured move based on the range.<\/li>\n\n\n\n
- Bears finding value selling along the bottom trendline created by the previous bull channel.
Potential triangle forming.<\/li>\n\n\n\n - Price continues to test the pivot of October 2025.<\/li>\n\n\n\n
- Ideally the bears would send price back to previous triangle peaks of the 4125 and 3508 areas. The apex of a triangle acts like a price magnet.<\/li>\n\n\n\n
- Bears are trying to create a lower high whose climax would be the week of April 17th, 2026.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> Gold chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- Price continues to range between the 200 and 20 moving averages. <\/li>\n\n\n\n
- Bears did a great job keeping the ball in their court.<\/li>\n\n\n\n
- Always in short.<\/li>\n\n\n\n
- The past 4 consecutive days were bear bars.<\/li>\n\n\n\n
- Significant tails beneath bear bodies show determined bulls trying to prevent a runaway downward trend.<\/li>\n\n\n\n
- Bulls defended the previous neck line, preventing a lower low.\u00a0<\/li>\n\n\n\n
- Bears potentially creating a lower high.<\/li>\n\n\n\n
- Bears were able to close 3 out of 5 bars of the past week beneath the moving average.<\/li>\n\n\n\n
- Friday’s bear bar closed decisively beneath the moving average.<\/li>\n\n\n\n
- Potential inverse cup and handle pattern being formed.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n