Gold Broke Out – Another Drop Loading?

XAUUSD GOLD Gold is attempting a rebound but faces strong resistance near $3,364–$3,368, where previous support converges with the descending trendline (TL1). A clear rejection here could resume the bearish momentum.

Technically, the price is hovering just below the TL1 resistance. The zone around $3,368 is critical — if bulls fail to reclaim this area, we could see a move back toward the $3,326 support, with a deeper target near weekly support at $3,310.

📉 A rejection around current levels = high probability drop
📈 Break and hold above TL1 = potential short-term reversal

🧠 Macro Check:
Despite intensifying Middle East tensions (Israel-Iran conflict escalating, Trump weighing intervention), gold remains under pressure. The Fed’s hawkish hold, persistent inflation, and a strong dollar continue to weigh on bullion in the near term.

🔍 Key Levels:

• Resistance: $3,364–$3,368 (structure + TL1)
  
  
• Support: $3,326 / $3,310
  

Bias: Bearish below $3,368
Setup Idea: Watch for rejection near resistance for short setups toward $3,326 and $3,310