gold and xauusd Trendline Rejection → Bearish Continuation?GOLD (US$/OZ)TVC:GOLDJoan_with_ForexPrice is currently trading below a descending trendline, indicating short-term bearish pressure. The market previously formed a range (consolidation zone) before a strong bullish breakout, followed by a rejection from higher levels. Structure has shifted from bullish to lower highs and lower highs resistance, suggesting weakening momentum. . Trendline Resistance A clear downward-sloping trendline is acting as dynamic resistance. Recent price action shows rejection near this trendline, confirming sellers are defending it. 2. Moving Averages (EMA 9 & EMA 50) Price is hovering around the EMAs.Trendline Rejection → Bearish Continuation? Short-term EMA is flattening → indicates loss of bullish momentum. No strong trend confirmation at the moment. 3. Range Zone (Left Structure) Prior consolidation zone marked a base accumulation area. Breakout from this range led to a strong upward impulse. 4. Support Zones Minor support: Around the recent reaction low (light blue zone). Major support: Lower purple zone (~4,580–4,600 area), acting as a stronger demand zone. Bearish Scenario (Primary Bias) As long as price remains below the trendline: Expect continued rejection from resistance. Potential move toward: First: minor support zone Then: major support zone below The drawn path suggests a pullback + continuation lower, aligning with current structure. A clean breakout and close above the trendline would: Invalidate the bearish bias Open the door for a move toward previous highs (~4,780–4,800)