Gold Rejection in Focus – Will Bears Take Control?As anticipated from recent price action, gold’s latest movement may be signaling weakness and could act as a key trigger for short sellers. This is why I anticipate increased short-selling activity ahead. The bearish outlook is still intact. However, a rebound from resistance followed by rejection could once again attract sellers, setting the stage for a move toward the 3,180 support zone, which aligns with the upper boundary of the descending channel.
That said, failure to stay below this level could invalidate the bearish scenario and increase the likelihood of a pullback toward the upper line of the channel.
Before considering any short positions, look for clear bearish confirmation signals—such as a bearish engulfing candle, strong wick rejections from resistance, or rising sell volume.
Please note, I will not get involved without proper confirmation.
