XAUUSD 4H Analysis – Possible Break Below Key Structure

Structure Overview:
After printing a multi-month high around 3,473, price has formed a clear rounded top followed by lower highs, showing weakening bullish momentum. Gold is now retesting a key structure zone near 3,270–3,275, which has acted as previous support several times.

📉 Key Technical Observations:
Trend: Short-term bearish within a broader consolidation

Support Zone: 3,270–3,250 (watch closely for a break)

Resistance Levels:

Minor: 3,340

Major: 3,390–3,400

📊 Scenario Outlook
🔻 Bearish Bias (Preferred Scenario)
If price closes below 3,270, expect:

Initial target: 3,210–3,220 zone (clean imbalance + previous resistance)

Secondary target: 3,130–3,150 (March structure break zone)

This would confirm a transition into a mid-term bearish leg unless a fakeout occurs.

🔺 Bullish Recovery (Alternative Scenario)
If price reclaims 3,305 with strength:

A move back toward 3,340–3,360 is possible

Needs volume + momentum confirmation, ideally with a bullish engulfing candle

⚠️ What to Watch
Daily candle close relative to 3,270

Reaction at 3,250–3,260 demand zone

Gold often sweeps key lows before reversing — watch for liquidity grab wicks

📌 Conclusion
Gold is sitting at a critical level — a confirmed close below 3,270 could open the doors for a deeper retracement toward March’s breakout levels. Until then, this remains a watch and react environment. Avoid chasing.