XAUUSD Breakdown Setup โ Gold Bears Eye $2,845 Support ZoneGold (XAUUSD) has broken below its rising channel structure, signaling a shift from bullish momentum to potential bearish continuation. After a sharp rejection from the $3,167 high, price is currently consolidating just below the psychological $3,000 level, which now acts as resistance.
Key Technical Zones:
Current Price: $2,985
Resistance Zone: $3,000 โ $3,005 (key rejection area)
Support Targets:
TP1: $2,923
TP2: $2,844
TP3: $2,832 (swing low)
Bearish Trade Setup:
๐ Entry Zone: If price retests and rejects the $3,000 resistance
๐ Invalidation Level: Break above $3,005
๐ Target Zones:
$2,923 โ Previous structure support
$2,844 โ $2,832 โ Deeper support and channel base
Technical Confluence:
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Bearish flag formation following strong impulsive sell-off
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Channel break confirms shift in trend
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Lower highs and bearish momentum building beneath $3,000
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Strong psychological resistance at $3,000