GOLD PRICE ACTION ANALYSIS – June 11, 2025

GOLD PRICE ACTION ANALYSIS – June 11, 2025 🟡
Technical Breakdown & Bearish Scenario Ahead ⚠️📉

🔍 Overview:
The chart presents a clear range-bound structure with strong horizontal resistance around the $3,400–$3,420 zone and support around the $3,120–$3,160 level. Price is currently trading near the upper range of the consolidation.

📊 Key Technical Levels:
🔴 Resistance Zone: $3,400 – $3,420
➤ Price has been rejected here multiple times (highlighted by red arrows and orange circles), showing strong supply pressure.

🟣 Intermediate Support: $3,260.618
➤ This level acted as a minor support and could be tested again if the current pullback deepens.

🟤 Major Support Zone: $3,120 – $3,160
➤ A key demand area where price previously bounced significantly.

📉 Bearish Setup:
A potential lower high is forming just below the resistance zone.

The projected path suggests a minor pullback to form a bearish retest, followed by a potential breakdown below $3,260.

If the $3,260 support is broken decisively, further downside toward the $3,120–$3,160 support is likely (blue arrow projection).

🔄 Bullish Scenario (Invalidation):
A breakout and strong close above $3,420 could invalidate the bearish structure.

In that case, price might attempt to target higher resistance levels beyond $3,440.

📌 Conclusion:
Gold remains in a range with a bearish bias unless the $3,420 resistance is breached.
🔽 Watch for confirmation below $3,260 for bearish continuation.
✅ For bulls, wait for a strong breakout above resistance with volume.