XAU/USD: Bearish Path Ahead – Targeting Lower Gold Prices

Market Outlook & Technicals

Gold is clearly under pressure, currently trading at 2898.81 with a -0.73% drop today. The bearish trend is evident. We've seen resistance at 2930.59 hold firm, keeping price contained within the day range. Below us, support at 2867.03 and 2850 are key levels that could briefly pause the downside.

Clean Setup: Short XAU/USD

My swing trade setup is a short on XAU/USD. I'm looking for an entry around 2914. Stop Loss is set at 2990, covering the 2950 resistance level. Our Take Profit target is 2800. Prevailing market sentiment and potential for