FX.co ★ XAU/USD, GOLD

When I look at this Gold M30 chart, the first thing that catches my attention is how price is struggling near the recent highs without being able to create a clean breakout. The structure is starting to resemble a double-top style formation, or at least something very close to it. Buyers pushed the market higher twice, but both attempts lost momentum near the same area around 4343–4348. That kind of hesitation near resistance often tells me that buying pressure is fading and that some traders are already taking profits. What makes the setup interesting is that price is still trading below the rising trendline drawn above the market. Instead of showing strength, the candles are becoming smaller and more indecisive. For a scalping trader, this usually signals that the market may need another move lower before finding enough liquidity for the next meaningful rally. The recent rejection from the highs supports that idea. The zone around 4335–4340 remains the key short-term resistance. As long as price stays below it, I think sellers still have a chance to press the market lower. The first downside area sits near 4325, followed by 4318 and then the previous swing support around 4310–4305. If momentum increases, a deeper move toward 4295–4285 cannot be ruled out. The RSI is also sitting around the middle area rather than showing strong bullish momentum. That tells me neither side has complete control, but after the recent rejection, sellers appear to have a slight advantage. From a pure scalping perspective, I would not be surprised to see gold revisit the recent lows first, sweep out weak buyers, and only then attempt another move higher. For now, my view is simple: the market looks heavy near resistance, the double-top idea is still alive, and a retest of lower support levels seems more likely before any serious bullish continuation begins. The next few candles should reveal whether this is only a temporary pullback or the start of a deeper correction.