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xau, #gold When looking at the weekly chart, it couldn't surpass the 4813 peak. This area is where sellers are strong. If it cannot stay above this level, a decline is expected.
In the decline, the Fibonacci 0.618 support at 4399 is the first important support level; if it cannot hold, the lower supports are at 4266- 4094 levels. This is the lowest point where buyers appeared during the last wave of decline. This area is an important support. A rebound may occur again.
Looking at the main structure, it still shows that the upward trend continues, and it is in a correction zone, with the possibility of testing the peak still ongoing.