Lingrid | GOLD Major Support Level ViolatedOANDA:XAUUSD has formed a lower high beneath the key resistance at 3,310, showing fading bullish momentum after a breakout failure. Price is trading below the upward trendline and moving toward the 3,260 support zone with a corrective structure. The rejection from the resistance block and breakdown of a key level suggests continued bearish pressure.
📉 Key Levels
Sell trigger: rejection from 3,300–3,330 resistance block
Target: 3,260 key support, followed by 3,240 lower zone
Invalid level: breakout and close above 3,320 regains bullish bias
Resistance zone: 3,310–3,330 acting as a ceiling for upside attempts
⚠️ Risks
Reclaiming 3,310 would shift the bias back to neutral/bullish
Sideways range between 3,260–3,320 could cause fakeouts
Volatility spikes from macroeconomic events may trigger stop hunts
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
