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We are monitoring the 4512 level of $XAU . For now, buyers have appeared at this level. However, to say that buyers have strengthened, we need to see a close above the 4776 peak.
If it stays below 4512, the decline will continue further and a harmonic Bat pattern may form.
The 4186-4140 blue box area is a zone where buyers could come according to the formation.
The stop level for the formation: a daily close below 4095.
This formation does not predict a decline; if it does not decline, it shows where buyers could come from.
But if a close occurs below 4512, the reverse Cup & Handle pattern will activate and target the blue box below.