XAU, #Gold If it maintains the 4697 level on the 4-hour chart, the upward potential continues.


The 4870 level, which was rejected, corresponds to the 0.618 Fibonacci level of the entire downward wave. This level is significant. If it cannot break this level, a correction may occur.
If a close below 4697 occurs during the correction, the decline could continue further.
If a close above 4870 occurs, the 4990-5119 zone may act as resistance. If it closes above the 5421 peak, an upward continuation is expected.
When rejected at resistance, if the 4697 bottom is broken during the pullback, the decline could deepen.
Potential supports during declines are at levels 4261-3992-3887 and 3674. When a reversal is confirmed at any of these levels, a rebound may occur.
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