XAU/USD 15M Bullish Rebound from Key Support ZoneGoldOANDA:XAUUSDCHART_MASTERS_GOLDXAU/USD (Gold) 15-Minute Technical Analysis Market Structure The chart shows a clear bearish breakdown from a prolonged consolidation ("range box"). Price failed to hold above the range support and experienced an aggressive selloff, confirming strong seller control. Key Observations Range Breakdown Confirmed: The market broke below the lower boundary of the range around 4,320–4,315, triggering downside momentum. Bearish Trendline: Price remains below the descending trendline, indicating the short-term trend is still bearish. Support Zone: Around 4,240–4,255 where price is currently consolidating after the sharp decline. Potential Base Formation: Recent candles show slowing bearish momentum and smaller-bodied candles, suggesting sellers may be losing strength near support. Trade Setup Shown Buy Entry: 4,254.826 Stop Loss: 4,226.199 Target: 4,317.316 Bullish Scenario If support around 4,240–4,255 holds and price breaks above the short-term descending trendline: Buyers could push toward 4,280, then 4,300. Main target remains 4,317, which aligns with the previous breakdown area and resistance zone. Bearish Scenario If price closes below 4,240: The support structure fails. Sellers may extend the decline toward 4,225 and potentially lower levels. Risk Assessment The setup is a counter-trend buy because the overall 15-minute structure remains bearish. Confirmation through a trendline breakout or bullish engulfing candle near support would increase the probability of success.