“Gold 1H – Rejection short Setup”

1. Current Price:
The price of gold is at $3,329.650, up +35.003 (+1.06%) for the session.
2. Previous Trend (Green Channel on the Left):
A bullish trend was observed from May 20–21, marked by a rising channel (price consistently moved higher).
3. Resistance Zone (Red Rectangle):
The area between $3,345.251 and $3,350.095 is highlighted as a resistance zone — a price level where sellers are expected to step in.
4. Support Zone (Lower Levels):
There is a significant support level shown around $3,277.080–$3,276.121. This is likely the target zone for the potential drop.
5. Forecasted Move (Black Arrow):
The chart suggests a potential short-term bearish move. After touching or approaching the resistance zone, the price may reject and drop down toward the support area near $3,277.
6. Trade Idea:
The user/analyst seems to be anticipating:
• A rejection at the resistance.
• A possible short-selling opportunity.
• Target near $3,277 if price breaks below the current support ($3,329.650).