Gold: Will 3,260 Flip From Supply to Springboard?

Micro Gold Futures — 30 min chart

BULLISH ABOVE 3,260 | BEARISH BELOW

🗺️ Structure in Focus
Macro bias (4 h/1 D): remains bearish — lower highs & lows since late‑April.

Intraday context: price climbing in a rising channel; buyers defend each channel low since 1 May.

Grey zone 3 255‑3 260:
• 61 %‑78 % Fib retrace of the last leg down
• Breakdown base now acting as supply
• Mid‑channel + intraday VWAP overhead
A decisive H1 close above 3 260 plus a bullish retest flips the bias long toward ≈ 3 280.

🧭 Trade Map
🔴 Base‑case short
• Trigger – bearish reaction inside / below 3 255‑60
• Targets – 3 230, then 3 210 (-27 % Fib extension)
• Invalidation – H1/H4 close > 3 260

🟢 Flip‑bull plan
• Trigger – H1 close above 3 260 and zone holds as support
• Target – 3 280 supply (channel top + prior S/R)
• Invalidation – H1 close back under 3 250

(Risk ≤ 1 % per idea; scale out at interim levels.)

📊 Narrative to Watch

• Fed speakers & US data could jolt real yields and gold flow.
  
  
• Asia session often sets the tone—watch Shanghai physical premium chatter.
  
  
• Softening DXY gives the upside‑break thesis a tail‑wind.
  

What’s your play—fade the zone or ride the breakout? Smash the boost 🔥 and follow for live updates!

Not financial advice; just sharing my plan.

Tags: #Gold #XAUUSD #Futures #PriceAction #Fib #TechnicalAnalysis