Xauusd Expecting Selling movement Gold XAU/USD on the 15-minute chart shows a clear rejection from a key resistance zone near $3332 $3335 marked by the blue rectangle Price initially spiked into this zone but quickly reversed forming a bearish engulfing pattern highlighted with a red circle indicating strong selling pressure
Following this rejection the market structure shifted to lower highs and lower lows suggesting the beginning of a bearish continuation pattern A temporary pullback occurred but failed to break above the previous swing high reinforcing bearish sentiment
Projected Move
Price is currently forming a descending pattern and is expected to break lower
Target 1 $3312 a key support and previous consolidation level.
Target 2: $3295 a stronger support zone highlighted by the black box likely the final bearish target if momentum continues
Conclusion
As long as the price remains below the resistance zone bearish momentum is favored. A clean break below $3312 could accelerate the drop toward the second target Watch for confirmation with bearish candlesticks and volume near support levels
