A Buying Opportunity or Sign of a Bigger Correction?

Gold Breaks Below 3300 – A Buying Opportunity or Sign of a Bigger Correction?

🧭 Market Update: Is the Sell-off Truly Dangerous?
Gold saw a surprising reversal at the close of the US session yesterday after a sharp decline targeting the 329x liquidity zone, followed by a strong buying momentum that pushed the price back above this level.

After testing the liquidity zone below 3300, significant buying volumes emerged at this price point, pushing the price back up. However, the market is still undecided about whether the bulls or bears will dominate at this stage. We are currently in an accumulation phase, with liquidity sweeps occurring at both the highs and lows, meaning traders should exercise caution and look for scalping points for appropriate entry and exit.

Short-Term Outlook: Buy Bias Dominates Today
In the short term, the buy bias appears stronger compared to yesterday. Focus on buying early at continuation patterns to capture the market's movement. The D1 candle from yesterday formed a wick rejection, showing that selling pressure has been absorbed and the buying momentum has returned in the short term. Therefore, be proactive and look for early buy opportunities.

In the M30 timeframe, there is a solid continuation pattern forming in the 16-14 zone, which could serve as a good entry point today. If the price continues to drop, we’ll wait for a retest of the previous bottom at 03-00, and monitor for any strong downward momentum to confirm if the bearish trend will continue. On the other hand, if you’re considering sell positions, proceed with caution. As mentioned with the D1 wick rejection, the SELL pressure may have been absorbed, and BUY momentum could take over in the coming days. Avoid rushing into sell positions.

Key Support & Resistance Levels:
Key Resistance: 3342 – 3353 – 3362 – 3381

Key Support: 3330 – 3314 – 3303 – 3295

Scalping Opportunities and Buy Zones:
BUY SCALP:
3316 – 3314
Stop Loss: 3310
Take Profit: 3320 → 3325 → 3330 → 3335 → 3340 → 3350

BUY ZONE:
3303 – 3301
Stop Loss: 3297
Take Profit: 3306 → 3310 → 3315 → 3320 → 3330 → 3340 → ????

Sell Opportunities and Caution on Bears:
SELL SCALP:
3362 – 3364
Stop Loss: 3368
Take Profit: 3358 → 3354 → 3350 → 3345 → 3340 → 3330

SELL ZONE:
3380 – 3382
Stop Loss: 3386
Take Profit: 3376 → 3372 → 3368 → 3364 → 3360 → 3350

Key Takeaway:
We are at a critical stage where both bulls and bears are vying for control. Will gold bounce from the support and continue its bullish trend, or will the sellers regain control and drag prices lower? Be patient and wait for clear price action signals before entering any trades.

The market is currently in an accumulation phase, so avoid rushing into decisions. Focus on buying when clear confirmations appear at support zones and stay alert for sell rejections at key resistance levels.

Good luck with your trades!

💬 What’s Your View on Gold Today?
Do you believe gold is set to break 3390 and continue its bullish momentum?
Or are we looking at a deeper correction towards 3270 in the coming days?
👇 Share your analysis and thoughts in the comments below! We’d love to hear your take on where gold is headed next!