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XAU, #gold, in the 4-hour chart, buyers came in at the 4512 bottom, and a rebound may occur.
It could test the 4700-4800 range. This area is also a zone where sellers are strong.
If it cannot stay above 4870, a decline is expected. If the decline continues, we will monitor the Fibonacci 0.618 support at the 4399 level.
If support cannot hold, the lower supports are at 4266-4094 levels. These are the bottom levels where buyers appeared during the last wave of decline. This area is an important support. A rebound may happen again.
Looking at the main structure, there is still a possibility of testing the high.