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$XAU Gold closed below the 4512 level, followed by a decline, which was met with a rebound.
As long as it does not close above the 4590 level, the inverse Cup & Handle pattern remains active and targets the blue box below.
If it reaches the target, a Harmonic Bat pattern will form. The pattern is bullish.
The 4186-4140 blue box area is a zone where buyers may come in according to the pattern.
Targets are 4512-4700-4800 levels. The stop level for the pattern is a daily close below 4095.
In an upward move, to say that buyers have strengthened, there must first be a close above the 4776 peak.