#GOLD – Bearish Outlook Toward Support Zone | 1H Chart Analysis

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Gold faces rejection from key resistance zone (3033–3040) and is currently trading below the Ichimoku cloud, indicating bearish momentum. Price action suggests potential continuation toward the Support Zone around 2985.

Technical Analysis:
Clear rejection from resistance
Bearish structure with lower highs
Price trading below Ichimoku cloud, favoring sellers
Targeting support near 2985


Fundamental View:
Strength in USD amid Fed rate expectations is capping gold's upside
Lack of fresh catalysts has led to profit-taking after recent highs

Bias: Bearish below 3033 resistance
Watch for breakdown toward support zone with confirmation of lower lows.

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