XAUUSD – Mid-Channel Rejection Near Key Supply ZoneGold has made an impressive recovery off the $3,250 zone, pushing back into the $3,380–$3,390 region — a key supply area which previously led to strong sell-offs.
We’re now sitting at the upper boundary of a 1H ascending channel and just under a significant resistance area seen on the 4H and daily timeframes.
Although bullish momentum is still present, price is showing early signs of exhaustion at this level — with small rejections forming and volume beginning to taper off.
The key zone to watch is $3,384 – $3,390. If price fails to break and close above this zone cleanly on the 4H, we may see a corrective pullback back toward the midline of the channel — or even a full retest of the lower boundary near $3,305 or $3,268 depending on momentum.
Bias: Short-term bearish / corrective – waiting for confirmation of rejection or bearish candle formation below $3,384.
