$XAU The price is rising, but it tested the 4580 peak and failed to hold above it. The possibility of a decline remains.

On the 1-hour chart, if a short-term drop occurs, there is a possibility that a libra formation will form. According to the formation, the 4454-4415 range is the reversal zone. The 4580 peak with a stop at 4366 can be monitored.
If the rise continues toward the 4776 level and, once it establishes itself above it, the harmonic formation we are following will be invalidated and the higher resistances can be tracked.
For the harmonic formation to form, the decline needs to continue down to the 4186-4140 blue box area. This zone is the formation’s reversal area, and it’s a region where buyers may step in. From here, gold could start a new upward wave.
The targets are 4512-4700-4800. Stop level: a daily close below 4095.
In the rise scenario, for us to say that buyers have strengthened, first there must be a close above the 4776 peak.