Gold Setup: Bullish Reversal or Bearish Continuation?🌀 XAUUSD 1H – Key Decision Point Ahead | Bullish or Bearish Continuation?
Gold is currently trading around the $3038 mark after a sharp bearish impulse. Price is now reacting to a significant demand zone near $3020–$3030, which has previously acted as support.
📍 Scenario 1 – Bullish Play:
If price holds above the $3030 zone, we could see a recovery toward the $3047–$3067 supply area.
A clean break and retest of $3067 could open the door for a bullish continuation toward the $3140–$3160 zone.
📍 Scenario 2 – Bearish Continuation:
A clean break below $3020 could trigger further downside.
Watch for a bearish retest of the broken structure, targeting $3000, and possibly $2960 liquidity levels below.
🔁 Bias: Neutral for now, awaiting a clear breakout and retest confirmation from the key levels.
🧠 Patience is key here—let price action guide your entry, especially around the $3020–$3047 reaction zone.
✅ Like, follow, and drop your thoughts in the comments — are you leaning bullish or bearish?