XAUUSD: Descending Channel Resistance Remains in Control

Sep 11

XAUUSD is still trading inside a clear descending channel on the 30-minute timeframe, with price now reacting from the upper part of the structure.

The latest sharp rebound brought Gold back toward the 4400–4420 resistance zone, where the move meets the main descending resistance line. This is the key area for the current setup, and so far buyers have not managed to break the broader bearish structure.

As long as XAUUSD remains below this resistance cluster, the rebound can stay corrective. A rejection from the current area could send price back toward 4340 first, followed by the 4280–4300 target zone near the lower channel support.

Resistance: 4400–4420
Support: 4340, 4280–4300

A sustained breakout above the descending resistance would weaken the bearish scenario, but while price remains below it, the structure still favors another move lower.

Sep 14

Trade active

+1180 PIPS DONE