📉 Recent Price Action Summary

Sharp drop from near 3380 to below 3310.

Current price: ~3313, after a minor bounce from ~3295.

The sell-off was strong and sharp, with a consolidation forming afterward.

🔍 Technical Levels to Watch

Immediate Resistance: 3315–3320 zone (prior support now acting as resistance).

Key Support: Around 3290 and then 3260.

Major Resistance (Intraday): 3340–3350 zone (where price last dropped from).

📊 Potential Scenarios for Today

1. Bearish Continuation (More Likely If Below 3315):

If price fails to reclaim 3315–3320, expect further downside toward 3290 or even 3260.

Volume during the drop was relatively high — indicating strong bearish momentum.

2. Bullish Recovery (Less Likely Unless Above 3320):

If bulls manage to push above 3320 with strength, short-term recovery toward 3340–3350 is possible.

Needs strong support from dollar weakness or dovish news to sustain.

⚠️ Market Sentiment Factors to Watch Today

U.S. Economic Data Releases: Any CPI, employment, or Fed-related news will cause sharp moves.

Dollar Index (DXY) and Bond Yields: If DXY drops, XAU/USD may bounce.

Geopolitical Risks or Inflation Talk: May trigger gold demand.

📌 Summary:

Bias for Today: 🔻 Bearish to neutral, unless 3320 is broken convincingly.

Day Trade Idea: Look for rejection near 3315–3320 for short setups. If above 3320 with momentum, consider long scalps toward 3340.