XAUUSDGold / U.S. DollarFOREXCOM:XAUUSDHAMED_AZHello Traders! 👋 What are your thoughts on Gold? The Gold chart on the 8-hour timeframe is currently approaching a critical decision zone where multiple technical factors are converging, signaling a potential turning point. Price action remains confined below a primary descending trendline, confirming that the overall market structure is still bearish. As long as this trendline remains intact, any upward momentum is classified as a corrective rally within a larger downtrend. The highlighted red box represents a significant Supply/Resistance zone. Historical price reactions in this area confirm a high density of sell orders. The alignment of this zone with the descending trendline creates a high-probability confluence area for a potential reversal. Following the recent impulsive move lower, the price is currently undergoing a minor corrective bounce. However, bullish momentum appears exhausted, increasing the likelihood of a Lower High (LH) formation before the downtrend resumes. The primary expectation is for price to retrace into the marked resistance zone. A bearish rejection or reversal pattern in this area would signal a continuation of the downtrend toward lower liquidity targets. A decisive breakout above the supply zone, supported by a strong candle close above resistance, would invalidate this bearish outlook and shift the bias toward a neutral-to-bullish structure. Feel free to like and share your thoughts in the comments! ❤️