gold on bullish rejection above 2958#XAUUSD has repeatedly faced rejection above the 2949 level, forming a strong bearish zone. Currently, the market awaits a decisive breakout.
A breakout above 2949 could trigger a bullish toward the next decline zone at 2958, where profit-taking may occur. However, a pullback to 2942 is expected before further bullish continuation.
If the price fails to sustain above 2949 and drops below 2935, strong selling pressure could push toward 2916, indicating a deeper bearish trend.