XAU/USD (Gold) – 30-Minute Technical AnalysisGoldOANDA:XAUUSDBlackRockOfficialGold is currently showing signs of a corrective pullback within a broader bearish trend, with clearly defined supply and demand zones. The structure presents potential opportunities for both intraday bulls and swing traders waiting for a higher timeframe rejection. 🔍 Key Observations: Current Price Action: Gold is trading around $3,292.62, showing a minor intraday recovery. However, overall momentum remains bearish after the recent sharp sell-off. M30 Selling Area: There is an immediate intraday supply zone around $3,320–$3,322, marked as the "M30 selling area". This is the first level of interest where sellers may become active again. Strong Selling Area: A more significant higher timeframe resistance lies between $3,327–$3,332. This is a confluence zone and a probable reversal point. If price reaches here, it’s expected to face strong selling pressure. 📈 Bullish Scenario: If price breaks and sustains above the M30 selling area, it may target the strong selling zone above. A confirmed rejection from this higher zone could offer an ideal shorting opportunity. 📉 Bearish Scenario: Rejection from either of the selling zones could initiate a sell-off targeting the following support areas: First target: $3,310–$3,312 (Major liquidity area for bullish move) Second target: $3,303–$3,306 (M30 liquidity area for bullish move) Break below $3,302 would expose further downside potential. 🧠 Strategy Outlook: Intraday Traders: Can look for rejection patterns or bearish engulfing candles in the $3,320–$3,330 zones for short entries with tight stops. Swing Traders: May wait for price to tap into the strong selling area before entering with wider targets down to the liquidity zones. Bullish invalidation: Sustained breakout and hold above $3,332 would invalidate the short bias. 🔄 Market Sentiment: Overall bias remains bearish unless bulls reclaim control with volume and structure change above the $3,332 mark. 📌 Summary: Resistance Zones: $3,320–$3,322 (minor), $3,327–$3,332 (major) Support Zones: $3,310–$3,312, $3,303–$3,306 Bias: Bearish below $3,332 Trade Setup: Short from resistance zones targeting liquidity areas below. ✍️ Analysis by: BlackRockOfficial 🕒 Chart Timeframe: 30M | Broker: OANDA | Date: July 9, 2025