"Gold (XAU/USD) Bearish Breakdown from Resistance - Potential This chart represents the price action of Gold (XAU/USD) with a 30-minute time frame on March 7, 2025. It shows a slight bearish trend with the price of gold hovering around 2,916.973 USD
Resistance Zone: A red shaded area around 2,916.973, where the price has been testing, which indicates a potential area for short-term selling or reversal.
Support Zones: The green shaded area and dotted horizontal lines around 2,895.703 and 2,909.724, which may act as support if the price dips further.
The trader's prediction is for a potential downward move, as indicated by the arrow pointing down from the current resistance area. The target for this move seems to be toward the 2,895.703 USD level.
The overall sentiment is bearish, with the trader anticipating a pullback or correction after the price struggles to break through the resistance zone.
Let me know if you'd like more details on any specific area or further analysis!