Gold might descend to a support level, breaching the resistance

Hi, traders. I'd like to share with you my thoughts on Gold. On this chart, we can observe that the price has recovered from the mirror line and begun to rise. Shortly later, it approached the support level, broke it, and hovered for a while before returning to the mirror line. Later, the price broke through the support level once more and resumed trading inside a range. During this phase, it climbed to the resistance level, which coincided with the seller zone, before retreating to the mirror line. Gold then dipped into the buyer zone before quickly rising over the mirror line and into the seller zone. Following this movement, XAU corrected below the mirror line and resumed its upward journey. Shortly later, the price approached the resistance level, broke through it, and departed the range. For a while, gold traded above the seller zone, but it subsequently plummeted and is presently hovering at the 2930 resistance level within the sale zone. I anticipate Gold will climb little before continuing to drop, eventually shattering the resistance level. Furthermore, I believe that following the breakout, it will prolong its slide toward the 2865 support level. Please share this idea with your friends and click Boost! 🚀
:

📉 XAU/USD - Bearish Reversal from Seller Zone! 🚨
💰 Gold Spot (XAU/USD) - 1H Chart Analysis

Key Insights:
🔹 Resistance Level Held Strong – Price tested the seller zone but failed to break through, signaling strong bearish momentum.
🔹 Buyer Zone Played Out – Earlier, buyers pushed the price up from a strong accumulation zone, but exhaustion is visible now.
🔹 False Breakout & Range Formation – A range developed at the top, indicating distribution before a potential drop.
🔹 Support Level in Sight – If the price follows the projected path, we might see a test of the $2,865 - $2,850 zone soon.

📊 Trading Plan:
📌 Bearish Bias: Look for short opportunities as long as price stays below resistance.
📌 Confirmation Needed: A break below $2,930 would strengthen bearish sentiment.
📌 Targets: $2,900, then $2,865 - $2,850.

🚀 What do you think? Will gold break down or bounce back? Drop your thoughts in the comments! 👇🔥

#gold #xauusd #trading #forex #priceaction #technicalanalysis