$XAU In the short term, gold continued its movement within the 4590-4456 range and closed the week inside this zone. Neither buyers nor sellers were strong.

If it closes above the 4590 level at the opening, another upward move may occur. If it cannot stay above 4776, this rise is still considered a reaction to a decline.
If it does not close above 4590 and remains below 4456, the inverse Cup & Handle formation is active and the target is the blue box below.
When the formation reaches its target, a Harmonic Bat pattern forms. This pattern is bullish. The 4186-4140 blue box is the reversal zone of the formation and a region where buyers may come in.
The targets are 4512, 4700, and 4800 levels. The stop level of the formation: 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.