Gold Analysis and Trading Strategy | August 11-12

✅ From the current market perspective, the sharp decline in the early session has completely erased the bullish advantage brought by last week’s weekly close. The market is now entering a post-“shakeout” phase, where the next directional choice will be determined.

✅ Support Levels: The 3375–3380 support zone has been breached, putting short-term price action under pressure. The 3350 level is a key support; if it holds, there remains potential for a bullish rebound. However, a decisive break below this level could allow bears to regain control, opening the way for further declines toward 3330, 3315, 3300, and 3270. The move could even extend to 3245 and the 3150–3120 zone, ultimately testing the 3000–2950 range (corresponding to the starting point of the previous rally during the tariff war).

✅ Structural Changes: On the 1-hour chart, the high-volume consolidation zone has been broken to the downside, ending the previous range-bound pattern. The breakdown from the high-level box pattern has formed a short-term topping structure, with significant resistance pressure now overhead.

🔴 Short-term Resistance: 3380-3385 zone remains the primary overhead resistance.

🟢 Short-term Support: 3350–3340 zone remains the key support area