Looking at the 15-minute XAU/USD chart you provided, here's a short-term technical analysis:
Current Market Structure:
Price: Trading around 3339.7–3339.9.
Resistance Level: Around 3345, where price was rejected earlier.
Support Level: Around 3325, where price previously bounced.
Volume: Appears to be steady but not strongly increasing on the recent up move, suggesting a lack of aggressive buyers.
Candlestick & Trend Pattern:
Price made a lower high compared to the last swing up near 3348, suggesting possible weak bullish momentum.
The price is approaching a previously retested resistance level.
🔍 Short-Term Outlook:
🔴 Bearish Scenario (More Likely If Rejection at 3345 Continues):
If price fails to break and hold above 3345, a pullback towards 3328–3330 is likely.
Watch for a bearish candlestick (e.g., shooting star, bearish engulfing) near the 3345 resistance as confirmation.
🟢 Bullish Scenario (If Price Breaks Above 3345):
A clean breakout above 3345 with volume may push the price towards 3355–3360.
Confirmation would be a bullish candle close above 3345 on volume.
📌 Short-Term Strategy:
Sell near 3344–3345 with stop above 3350 targeting 3328 (low-risk short setup).
Buy only above 3345 after breakout and retest, targeting 3355.
#XAUUSD