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XAU, #Gold Continued rise towards the 4700-4800 zone we expect, with the 4512 bottom holding.
This zone is where sellers are strong. It was rejected initially; if it lingers a bit longer and cannot stay above 4870, a decline is expected.
In the decline, the Fibonacci 0.618 support at 4399 is the first significant support level; if it cannot hold, lower supports are at 4266-4094 levels. This is the bottom level where buyers appeared in the last wave of decline. This zone is an important support. A rebound may occur again.
Looking at the main structure, the possibility of testing the high still continues.