"XAU/USD – Bearish Reversal from Resistance? 📉"
Gold is trading inside a rising channel, currently facing strong resistance around $2,920-$2,923. This level aligns with previous support-turned-resistance, making it a crucial decision point.
🔸 Bearish Scenario: If price rejects this resistance zone, we could see a move toward the lower channel boundary and possibly $2,900-$2,880 support.
🔸 Bullish Scenario: A confirmed breakout above $2,923 could push gold toward $2,940 and higher.
⚠️ Key Levels:
✅ Support: $2,880, $2,863
🚨 Resistance: $2,920-$2,923, $2,940
A rejection here could provide short opportunities, while a breakout might trigger bullish momentum. What’s your bias on gold? Let’s discuss
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