#PostonTradFi **XAUUSD: Rejection at Resistance Keeps Focus on 4,440 Support**
#XAUUSDAnalysis #RiskManagement #DayTrading Hello traders,
XAUUSD previously traded within a strong ascending channel, reflecting sustained bullish momentum. After reaching the key **4,720 resistance zone**, buying pressure weakened and price entered a corrective downward channel. Although gold later broke out of that bearish structure and attempted a recovery, the move lacked sufficient strength to continue higher.
Currently, price remains trapped between the major **4,720 resistance** and **4,440 support** zones. A recent false breakout above resistance, followed by the formation of a rounding top pattern, suggests that buyers are losing momentum while sellers are gradually regaining control of the market.
As long as XAUUSD stays below the 4,720 resistance level, the bearish outlook remains valid. Continued selling pressure could drive price toward the **4,440 support zone (TP1)**, which remains the primary downside target.
However, traders should monitor the resistance area closely. A strong breakout and sustained move above 4,720 would invalidate the bearish scenario and signal the potential for a broader bullish recovery.
**Trade Update:** The expected correction ended after the last downward impulse, and price successfully resumed its decline. The market followed the projected scenario perfectly, reaching the target zone and confirming the bearish analysis.
As always, trade with discipline and proper risk management.