"Gold Price Analysis: Supply Zone Rejection & Potential Drop

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Key Technical Levels:
Supply Zone Resistance (~3,004.973): Price is currently testing this resistance area, which could lead to a potential rejection.
FVG (Fair Value Gap) Support Level (~2,949.378 - 2,945.323): This area is marked as a potential support zone where price might find buying interest.
EMA 200 Support (2,945.323): A critical dynamic support level that aligns with the FVG zone.
Indicators:
EMA 30 (Red Line - 2,990.457): Short-term trend indicator.
EMA 200 (Blue Line - 2,945.323): Long-term trend indicator.
Price Action & Prediction:
The price is in the supply zone resistance and could potentially reject downwards.
The blue projected path suggests a pullback to the FVG support zone before a possible rebound.
If price breaks below this support, further downside could be expected.
Potential Trade Idea:
Short Setup: If rejection occurs at resistance, a short trade targeting the FVG/EMA 200 support could be considered.
Long Setup: If price reaches the FVG zone and finds support, a long position targeting previous highs could be a strategy.

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