Title: Gold Futures (GC1!) - Consolidation Under Key Resistance

On the 1-hour timeframe, Gold Futures are showing signs of consolidation near a significant resistance zone. Here’s the breakdown:

Resistance Zone (Upper Blue Area)

Price is trading under a clear resistance zone around 2,690–2,700. The rejection here indicates selling pressure at this level.
Bearish Trendline (Red Line)

A minor bearish trendline suggests weakening momentum, which aligns with the resistance zone acting as a supply area.
Support Levels (Lower Blue Areas)

Immediate support lies near 2,650, providing potential buying interest if the price pulls back.
A stronger support level is visible around 2,620, coinciding with prior price reactions.
Potential Scenarios

Bearish Case: A breakdown below 2,650 could lead to a further decline toward the next support at 2,620.
Bullish Case: A breakout above 2,700 would shift the bias, potentially targeting higher levels like 2,730.
Key Levels:

Resistance: 2,690–2,700
Support: 2,650 and 2,620

Short Bias:
Look for price to sweep above 2,690 and reject the resistance zone. Target 2,650 and 2,620 for potential profits.
Long Setup:
If price reacts strongly at 2,650, align long trades targeting the resistance zone at 2,690.