xau, #gold If we look at the chart, the movements are not vertical but more horizontal and continue leaning to the right. Buyers are no longer as excited as before. A correction may occur.

But to get a clear signal, we are monitoring the 4646 bottom. If it holds, a rise could happen again.
If it stays above 4870, the upward movement may continue toward the 4990-5119 zone. This area could act as resistance. If it closes above the 5421 peak, an ongoing rise is expected.
If it closes below 4646, there is a Fibonacci 0.618 support at the 4382 level; when a reversal confirmation is received, a rise could occur again.
If the decline continues, the last dip where a reversal occurred, at the 4046 level, could serve as support.