XAU/USD: Bearish Outlook Persists, Targeting Lower Support Levels

I am observing a continued bearish sentiment in XAU/USD, which suggests potential for further downside movement. The market has seen a 24-hour change of -0.38%, currently trading at 2909.02, reinforcing the established bearish trend. My analysis indicates that immediate resistance levels are holding, presenting a potential swing short opportunity.

Market Structure and Technical Analysis

From a technical perspective, the overall trend for XAU/USD remains bearish. The daily range between 2892.56 and 2925.49 highlights the current consolidation within this downtrend. The price is currently trading near the middle of this range,