This week Bears had great follow through with a strong red bar closing on its low. However, price did not go below the low of the previous week\u2019s tail. This was only the 2nd time in over 7 months that Bears were able to post consecutive bear bars on the weekly chart. Price now holds at the bottom of a bull channel, closing above the major psychological price of $5000. <\/p>\n\n\n\n
Most traders should be cautious buying the high and look to buy down near the moving average.<\/p>\n\n\n\n
The Weekly<\/em> Gold chart<\/h3>\n\n\n\n![\"Gold](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/03\/Gold-GC-mini-Weekly-Bears-Get-Solid-Follow-Through-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- $5000-5200 area continues to dominate GC\u2019s time and attention.<\/li>\n\n\n\n
- Bottom of bull channel.<\/li>\n\n\n\n
- Bulls want to create a micro double bottom which in turn would create a higher low in which to move up trailing stops and base risk off of. <\/li>\n\n\n\n
- Bears want to print another decisive red bar, flipping the market firmly into always in short.<\/li>\n\n\n\n
- Bears want to close a bar beneath the neckline of 4854.4 in order to make a lower low, disrupting the bullish market structure.<\/li>\n\n\n\n
- Bears want to drive price down to the moving average, ideally closing consecutive bars beneath the moving average.<\/li>\n\n\n\n
- Bulls want to continue to channel upward, maintaining the large distance between price and the moving average. <\/li>\n\n\n\n
- At a minimum Bulls would like to keep price moving sideways until the moving average catches up then launching once again off of the moving average.<\/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\/03\/Gold-GC-mini-Daily-Bears-Close-Beneath-the-Moving-Average-1-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- 7 of the past 10 bars are bearish.<\/li>\n\n\n\n
- 17 of the past 32 bars are bearish. <\/li>\n\n\n\n
- Failed wedge created by today\u2019s bear bar.<\/li>\n\n\n\n
- Friday’s bar closed decisively beneath the moving average.<\/li>\n\n\n\n
- Big opening gap down on Friday. Gap and go.<\/li>\n\n\n\n
- Bears want the next bar to have a decisive follow through. This would break the overall bull channel and flip price action into always in short.<\/li>\n\n\n\n
- Bulls want to treat this pullback as a buy the dip opportunity. Keeping price within the current bull channel. <\/li>\n\n\n\n
- Bulls want to push price back above the moving average. <\/li>\n\n\n\n
- Bulls want to prevent the bears from putting in a lower low.<\/li>\n\n\n\n
- Bears want to close beneath major psyche number $5000.<\/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
- $5000-5200 area continues to dominate GC\u2019s time and attention.<\/li>\n\n\n\n
- Bottom of bull channel.<\/li>\n\n\n\n
- Bulls want to create a micro double bottom which in turn would create a higher low in which to move up trailing stops and base risk off of. <\/li>\n\n\n\n
- Bears want to print another decisive red bar, flipping the market firmly into always in short.<\/li>\n\n\n\n
- Bears want to close a bar beneath the neckline of 4854.4 in order to make a lower low, disrupting the bullish market structure.<\/li>\n\n\n\n
- Bears want to drive price down to the moving average, ideally closing consecutive bars beneath the moving average.<\/li>\n\n\n\n
- Bulls want to continue to channel upward, maintaining the large distance between price and the moving average. <\/li>\n\n\n\n
- At a minimum Bulls would like to keep price moving sideways until the moving average catches up then launching once again off of the moving average.<\/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
- 7 of the past 10 bars are bearish.<\/li>\n\n\n\n
- 17 of the past 32 bars are bearish. <\/li>\n\n\n\n
- Failed wedge created by today\u2019s bear bar.<\/li>\n\n\n\n
- Friday’s bar closed decisively beneath the moving average.<\/li>\n\n\n\n
- Big opening gap down on Friday. Gap and go.<\/li>\n\n\n\n
- Bears want the next bar to have a decisive follow through. This would break the overall bull channel and flip price action into always in short.<\/li>\n\n\n\n
- Bulls want to treat this pullback as a buy the dip opportunity. Keeping price within the current bull channel. <\/li>\n\n\n\n
- Bulls want to push price back above the moving average. <\/li>\n\n\n\n
- Bulls want to prevent the bears from putting in a lower low.<\/li>\n\n\n\n
- Bears want to close beneath major psyche number $5000.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n