XAUUSD Short: Rejection from Supply – 4,340 Demand as TargetGold / U.S. DollarFOREXCOM:XAUUSDheniitradingHello traders! Here’s a clear technical breakdown of XAUUSD (1H) based on the current chart structure. After an extended bullish phase, Gold was trading inside a well-defined ascending channel, confirming strong buyer control and a sequence of higher highs and higher lows. During this phase, price respected the channel structure multiple times, using the lower boundary as dynamic support. Before the impulsive move higher, XAUUSD also formed two visible consolidation ranges, indicating accumulation prior to expansion. A clean breakout from the upper range triggered strong upside momentum and accelerated price toward the upper channel boundary. Currently, XAUUSD is trading near the Demand Zone around 4,340, which aligns with a rising trend line and a previous reaction area. A recent dip below this level resulted in a fake breakout, followed by a quick recovery back above demand, suggesting buyers are still active in this zone. Price is now reacting upward from demand, but remains capped below the 4,400 supply area, keeping the structure corrective rather than fully bullish. My scenario: as long as XAUUSD remains below the 4,400 Supply Zone, the bias favors sellers. I expect price to show rejection signals in this area—such as long upper wicks, bearish engulfing candles, or failed breakouts—followed by renewed downside pressure. The first downside target is a move back toward the 4,340 Demand Zone. A clean breakdown and acceptance below this level would confirm bearish continuation and open the door for a deeper move toward lower support levels. Manage your risk!