Gold: Tactical Short Opportunity as Resistance Holds Firm

Market Context & Technical Setup

Good morning, fellow traders. Serkan Kaya here, bringing you a tactical short opportunity in XAU/USD. While my long-term conviction for Gold remains overwhelmingly bullish, the market often presents high-probability zones for short-term corrections, even within broader uptrends. Currently, XAU/USD is trading around 2916.67, reflecting a modest -0.11% dip over the last 24 hours. The price has been consolidating in a tight day range of 2911.68 — 2921.66, suggesting a period of indecision after recent movements.
My analysis indicates that the immediate resistance level at 2921.66 is proving to be a significant hurdle. We are seeing rejection attempts around this level. This presents a potential market structure shift for the immediate term. My entry for this position trade is set