#xau, #Gold

On the 4-hour chart, as long as it continues to hold the 4552 bottom, there is a possibility of an upward movement.
A close below 4552 would bring a decline again.
While rising, a wedge could form; we are also monitoring this scenario. The waves are not yet complete.
If the fluctuations continue as I drew, it could currently be making the 5th wave.
If the rise continues toward the 4900-5100 zone, this area could act as resistance according to the wedge. And a decline could follow.
If it closes above the 5421 peak, this expectation will be canceled, and a new attempt at a high could occur.
If the 4552 bottom is broken during the pullback, the decline could deepen.
Potential supports during the decline are at levels 4261-3992-3887 and 3674.
When a reversal is confirmed at any of these levels, a new rise could occur.