XAUUSD WEEKLY SELL PROJECTION 03.03.25

Bearish Signals:

Bearish Engulfing at the Top: This pattern often signals a potential reversal.
Evening Star Formation: A strong bearish reversal pattern.
Bearish Spinning Top: Indicates indecision but leans toward bearish sentiment.
Support & Resistance Levels:

Immediate Resistance: Around 2,885 - 2,904.
Immediate Support: Around 2,857.
Target Price 1: Approximately 2,840.
Target Price 2: Around 2,784 - 2,783 (Major Support).
Trend Analysis:

Broken Uptrend Line: A possible retest of the broken trendline before further downside.
Rising Wedge Pattern: This is typically a bearish continuation pattern, confirming downside potential.
Trade Setup:

Possible Short Position: Entry near 2,885 - 2,900, stop loss at 2,922.
Target Levels: First at 2,840, second at 2,784.