XAU/USD 30-Minute Chart AnalysisGoldOANDA:XAUUSDHarry_MegatXAU/USD 30-Minute Chart Analysis Gold is showing a bearish structure inside a descending channel. Price is currently around 4,567, after a sharp rejection from the 4,600 area. Key levels: Resistance: 4,590–4,600 Major resistance: 4,615–4,640 Support: 4,540–4,550 Next downside: 4,520–4,525 Bearish setup Price is trading below the 7, 21 and 50 EMAs, while the descending trendline continues to cap upside moves. If gold makes a pullback toward 4,590–4,600 and gets rejected, the bearish continuation could target: 4,550 → 4,530 → 4,520 The chart's red projection also suggests a possible retest of the upper channel/trendline followed by another move lower. Bullish scenario A sustained 30-minute close above 4,600, followed by a break of the descending trendline, would weaken the bearish setup. Above 4,615–4,640, a stronger recovery could develop. Overall bias: Bearish below 4,600–4,615. Key confirmation: rejection below resistance + break of 4,550.