“Gold Price Action Signals Fresh Sell Pressure Below $3,365”

Aug 18

Gold (XAUUSD) Technical Outlook - Bearish Setup

1. Supply Zone Rejection

Price recently tested the $3,355 - $3,365 supply zone and faced rejection, indicating strong selling pressure from this area. This confirms sellers are in control near resistance.

2. Trendline Breakdown

An earlier upward trendline was broken, which shifts market sentiment from bullish to bearish. This breakdown suggests momentum is favoring the downside.

3. Key Support Levels

The immediate support lies near $3,320 (1st target), followed by a broader $3,285 -$3,300 zone (2nd target). These levels are crucial for short-term price reactions.

4. Demand Zone Watch

A stronger demand area exists between $3,270 - $3,285. If price extends lower, buyers may attempt to defend this zone.

5. Bearish Bias

As long as price stays below $3,365 resistance, the short-term outlook remains bearish, with potential continuation toward the demand zone.

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Aug 18

Trade active

from minor resistance level, 3351

Aug 19

Note

1st target achieved 200 pips+

Aug 20

Trade closed: target reached