Gold fails to hold gains at $3,330, drops to $3,288, bulls need to reclaim $3,305-$3,315

As Gold rallied to $3,331 yesterday taking all retail stops above critical resistance $3325, the bullish momentum seemed to be decisive.
However, the closing below $3325 caused intraday selling pressure giving the retail margin traders yet another run for their longs who saw their stops being triggered as prices dipped to $3288.

Current sideways trades remain trapped below immediate resistance $3305, which bulls must conquer in order to step up the gas for next hurdle $3314, a Fibonacci zone.

If Gold finds enough buying momentum above $3314, next litmus test comes programmed at $3325-$3331 to resume the bullish path for $3,345-$3,355-$3,365.

Meanwhile, rejection from $3,305-$3,314 will indicate sellers' domination causing momentum shift towards $3,288 below which next support may come at $3,280.

Note:

Bullish breakout above $3325-$3335.

Bearish breakout below $3288-$3280.