XAUUSD 4H Analysis – Possible Break Below Key StructureGoldOANDA:XAUUSDTheFXWazirStructure Overview: After printing a multi-month high around 3,473, price has formed a clear rounded top followed by lower highs, showing weakening bullish momentum. Gold is now retesting a key structure zone near 3,270–3,275, which has acted as previous support several times. 📉 Key Technical Observations: Trend: Short-term bearish within a broader consolidation Support Zone: 3,270–3,250 (watch closely for a break) Resistance Levels: Minor: 3,340 Major: 3,390–3,400 📊 Scenario Outlook 🔻 Bearish Bias (Preferred Scenario) If price closes below 3,270, expect: Initial target: 3,210–3,220 zone (clean imbalance + previous resistance) Secondary target: 3,130–3,150 (March structure break zone) This would confirm a transition into a mid-term bearish leg unless a fakeout occurs. 🔺 Bullish Recovery (Alternative Scenario) If price reclaims 3,305 with strength: A move back toward 3,340–3,360 is possible Needs volume + momentum confirmation, ideally with a bullish engulfing candle ⚠️ What to Watch Daily candle close relative to 3,270 Reaction at 3,250–3,260 demand zone Gold often sweeps key lows before reversing — watch for liquidity grab wicks 📌 Conclusion Gold is sitting at a critical level — a confirmed close below 3,270 could open the doors for a deeper retracement toward March’s breakout levels. Until then, this remains a watch and react environment. Avoid chasing.