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#xau, #Gold In the 4-hour chart, we are tracking the bottom and bringing it up to 4697. If a close occurs below gold, it will break the lower edge of the wedge, and the decline could continue further.
As long as it stays above 4697, the upward potential continues.
If it continues to fluctuate as I drew inside the wedge, it is currently in the 5th wave. When it reaches the 4900-5100 zone, this area could act as resistance according to the wedge. And a decline may occur.
If it closes above the 5421 peak, this expectation will be canceled, and a new attempt at a peak could happen.
If the 4697 bottom is broken during the pullback, the decline could deepen.
Possible supports during the declines are at levels 4261-3992-3887 and 3674. When a reversal is confirmed at any of these levels, a rebound could occur.