XAUUSD-Bears tighten their grip, is the road to 3000+ now open?GoldOANDA:XAUUSDGoldenBearfx178The escalating conflict between the US and Iran has led to a sharp rise in oil prices, triggering market concerns about inflation and creating the most dangerous window for the FOMC. This has deepened market expectations for a Fed rate hike, thereby suppressing gold prices. From the current market structure, gold has been repeatedly resisted by the downtrend line during its rebounds. The downtrend line continues to act as strong resistance, with rebound highs gradually declining along the trend line and several clear resistance shadows appearing, further compressing the upside potential of gold. This also means that bears still hold the upper hand, and the current supply zone is the 4030-4050 area. Based on the 2-hour chart, the price has repeatedly tested lower levels and rebounded during its downward oscillation along the descending trendline. The extended line formed by these structural lows serves as the current support level for the bulls, with the current demand zone located at 3960-3940. It is worth noting that if the 3960-3940 demand zone is effectively broken, further downside potential will open up. The liquidity in this area could translate into accelerated downward pressure, potentially forming a new downtrend testing the 3900 level, or even continuing down to the 3860-3840 area. Trading Logic: Before the descending trendline is broken, the market remains under bearish control. Gold is more likely to decline. Therefore, until the market structure changes, selling on rallies remains the primary trading strategy. Trading Strategy: Primary strategy: Entry - Focus on the 4020-4040 range, with a bearish bias(Invalidation: 4050). Alternative strategy: Entry - Focus on the 39865-3945 range, with a bullish bias (Invalidation: 3935). The above is not investment advice, but for learning and discussion purposes only!