Gold (XAUUSD) Poised For Downside Correction Amid Weakening Structural Momentum

Market Analysis – August 14

Gold (XAUUSD) is showing early signs of a bearish retracement as price hovers just above the $3,350 level while trading near the 9-day SMA at $3,360.

The MACD has crossed into negative territory, with the histogram posting red bars, signaling weakening bullish momentum. This decline in upward pressure follows an extended period of consolidation within a relatively tight range, indicating that buyers are gradually losing control.

Gold Key Levels

Resistance Levels: $3,500, $3,600, $3,750
Support Levels: $3,300, $3,250, $2,960

Gold Long-Term Trend: Bullish

The price recently failed to sustain a break above the $3,390 resistance zone, forming lower highs in the process. The chart also shows a breakdown from a short-term rising wedge pattern, a historically bearish structure that often precedes further declines. Immediate support is now focused at $3,300, with the next structural floor resting at $3,250 — a level that has previously acted as a springboard for bullish reversals.

Forecasts suggest that a decisive close below $3,300 could intensify selling pressure, paving the way toward $3,250 in the short term. If this support level fails, the retracement could extend further toward the $3,200 region, with an extreme downside target near $2,960 should macro sentiment and technical conditions align with bearish flows. Traders analyzing forex signals may closely watch these levels as they align with both technical and market-driven catalysts. Overall, the near-term trajectory remains skewed toward the downside until a strong bullish trigger emerges.

Gold Short-Term Trend: Bullish

Gold (XAUUSD) is trading below the 9-period SMA, reflecting sustained bearish momentum. Price recently rejected the order block zone near $3,380, confirming seller dominance.

MACD remains in negative territory, suggesting continued downside pressure. The next key support levels lie at $3,300 and $3,250, with a possible extension toward $3,200 if weakness persists.

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