"Gold Approaching Key Support – Will Bulls Take Control?"

🔹 Market Structure:
Gold is currently in a corrective phase after a strong bullish run, facing a pullback from recent highs around $3,160. The price has now approached a key horizontal support zone near $2,980 - $3,020.

🔹 Key Levels:
✅ Resistance: ~$3,160 (previous high)
✅ Horizontal Support: ~$2,980 - $3,020 (marked in blue)
✅ Target Level: ~$3,099 (potential bounce area)

🔹 Potential Scenarios:
1️⃣ Bullish Reversal: If the price finds support in the marked zone and forms bullish confirmation (e.g., hammer candle, bullish engulfing), we could see a retest of $3,099 and potentially higher levels.
2️⃣ Breakdown Scenario: If support fails, gold may see further downside towards $2,950 or lower.

🔹 Trading Plan:
📈 Buy Setup: Look for bullish confirmation near support (~$3,020) with a target of $3,099 - $3,120.
📉 Sell Setup: If support breaks, short positions could target $2,950 - $2,920.

🔸 Bias: Bullish above support, bearish below it.
🔸 Risk Management: Use a stop-loss below support (~$2,980) to manage risk.

Would you like me to refine this further or add any indicators like RSI, Moving Averages, etc.? 🚀