XAUUSD Bearish Rejection at Key Resistance Sell SetupToward4500GoldOANDA:XAUUSDGold_Market_MindXAUUSD (Gold) 15M Bearish Setup Analysis The chart shows gold rejecting a key resistance/supply zone around 4549–4550, where previous support has turned into resistance. Price is currently consolidating below this level after a strong bearish move from the recent high near 4590. Bearish Factors: Support turned resistance: The marked zone around 4549.97 is acting as a rejection area. Lower highs structure: Price continues to form lower highs after the sharp sell-off. Weak bullish retracement: Buyers have failed to reclaim the resistance zone decisively. Risk-to-reward favors sellers: The setup offers a larger downside target compared to the stop-loss distance. Trade Idea (Sell Bias): Entry Zone: 4540 – 4550 Stop Loss: 4570.77 TP1: 4530 TP2: 4520 TP3: 4510 TP4: 4500.46 Market Outlook: As long as price remains below 4550, sellers maintain control. A rejection from the resistance area could drive gold toward the 4500 psychological level. However, a strong breakout and close above 4570 would invalidate the bearish scenario and signal renewed bullish momentum.