GOLD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE,,,

This chart represents a technical analysis of the gold (XAU/USD) price movement on a 1-hour timeframe. Here’s what it indicates:

Uptrend Channel – The price is moving within a rising channel, marked by two blue trendlines.
Resistance Zone (Red Box at the Top) – The price is approaching a resistance level around $3,000-$3,015.
Potential Reversal – The chart suggests a possible price rejection from resistance, leading to a decline.
Target Support Zone (Red Box in the Middle) – The projected price drop is expected to reach the support zone around $2,948.
Major Support Level (Bottom Red Box) – A key support level is identified around $2,890.
Past Consolidation (Orange Circle) – Indicates a previous accumulation phase before the breakout.
Possible Trade Idea:
Short Entry: Near $3,000 (resistance zone).
Target: $2,948 (first support zone).
Stop Loss: Above $3,015 to manage risk.
This chart suggests a potential bearish retracement before a continuation of the uptrend.