Gold Analysis - Channel Decline Toward Key Support LevelsGoldOANDA:XAUUSDHamza_GoldGold is currently trading inside a descending channel, showing sustained short-term bearish momentum. Price continues to respect both the upper and lower channel boundaries, forming lower highs and lower lows. We have three key support zones highlighted below current price: •Support Level 1: Minor liquidity zone where a short-term reaction is possible •Support Level 2: Stronger demand area, likely to generate a corrective bounce •Support Level 3: Major support and potential reversal zone at the channel bottom The projected path shows price potentially continuing lower within the channel toward the deeper support levels before forming a bullish reversal. If price reacts at the lower boundary of the channel + major support, a breakout to the upside could target the 4,100+ area, aligning with the marked TARGET zone. Key Points: •Trend on 15m remains bearish until a channel breakout •EMA 9 and EMA 50 show downward pressure •Watching for bullish structure shift near lower support zone •Break and retest above the channel could confirm trend reversal Bias: Bearish short-term → Bullish reversal potential at deeper support.