Gold (XAU/USD) – Bearish Momentum Towards Key Support

Gold (XAU/USD) Technical Analysis – 1H Chart 🏆📉
🔹 Overview:

The chart shows Gold (XAU/USD) in a downtrend after failing to break above resistance.
Key zones are marked: Resistance (~$2,920 - $2,960) and Support (~$2,840 - $2,860).
A potential bearish move is suggested towards the support area.
📌 Resistance Zone (~$2,920 - $2,960) 🚧

Price has struggled to break this level multiple times, leading to rejection.
Sellers are likely in control, pushing the price lower.
📌 Support Zone (~$2,840 - $2,860) 🛡️

This area has historically acted as a strong demand zone.
Possible price reaction here, with a bounce back up if buyers step in.
📉 Bearish Scenario:

A retest of minor resistance (~$2,900) before continuing downward.
If price reaches support, a reversal or further breakdown could occur.
📈 Bullish Recovery?

Only a strong breakout above $2,920 would shift momentum to bullish.
🔥 Conclusion:

Short-term bias: Bearish 📉
Key watch: Price action at support (~$2,840) for possible bounce 📊