$XAU #The gold hourly chart shows that the Libra pattern we are monitoring is still active. Stop: a 4-hour close below 4366. It may attempt to reach the 4580 peak. However, this level will also act as resistance. If it does not close above this level, another decline may occur.

The harmonic formation that could potentially form when staying below 4336 is the reversal zone, marked by the blue box between 4186-4140. This region is an area where buyers may come in. Gold could initiate a new upward wave from here. Its targets are 4512-4700-4800 levels. Stop level: a daily close below 4095.
In an upward move, for us to say that buyers have strengthened, there must first be a close above the 4776 peak.