GOLD - (XAU/USD) - Bearish Pennant Pattern (07.04.2026)XAU/USD SpotFX:XAUUSDKABHI_TA_TRADINGSetup Overview GOLD XAUUSD is showing clear bearish pressure after failing to sustain momentum near the upper resistance zone. Price has already started reacting weakly from the intraday structure, and the current setup suggests a possible continuation to the downside. The ascending support trendline is under pressure, and if sellers remain in control, we could see a clean move toward the next key support areas marked on the chart. The rejection from higher levels, combined with weakening bullish structure, gives this setup a bearish bias for the near term. Resistance Zone: 4698 - 4702 → Major intraday resistance and rejection area 1st Support: 4534.67 → First downside target and reaction level 2nd Support: 4480.80 → Stronger bearish target if the first support fails to hold Disclaimer This analysis is shared for educational purposes only and reflects personal market views. It is not financial advice. Always manage your risk properly and confirm your entries with your own analysis before taking any trade. #XAUUSD #Gold #Forex #TradingView #PriceAction #TechnicalAnalysis #SupportAndResistance #DayTrading #IntradayTrading #MarketAnalysis #BearishSetup #GoldTrading Call to Support If you found this analysis helpful, don’t forget to like, comment, and share your view below ❤️📉 Your support keeps the analysis coming every day!