Sellers maintain their position - downward pressure below 4800GoldOANDA:XAUUSDJJainy🔺Related Information: (XAU/USD) Gold (XAU/USD) remains under selling pressure around the $4,640 level during the early Asian trading session on Friday. The precious metal continues its decline as surging crude oil and energy prices—driven by the escalating conflict between the US-Israel and Iran—renew concerns about inflation. Market participants will closely monitor developments in the Middle East. Gold paused briefly after the US Federal Reserve (Fed) kept interest rates unchanged on Wednesday and expressed concerns about the impact of rising oil prices on inflation. Fed Chair Jerome Powell also noted that the possibility of a rate hike has been discussed within the policy committee. Hawkish remarks from Fed officials have strengthened the US Dollar (USD) and weighed on USD-denominated commodity prices. 🔜🔜🔜🔜🔜🔜🔜🔜🔜🔜 📌 Chart analysis: 🔗 Short-term timeframes: M15, M45, H1 A recovery is underway with strong buying momentum: on M15, a continuous formation of BOS (Break of Structure) in an uptrend, breaking above the 4686 level. Price is moving away from the EMA line to the upside, signaling a return of bullish strength. H1: represents a technical recovery, targeting the 4804 resistance area. 🔗 Medium-term timeframes: H2, H4 A recovery following yesterday’s sharp decline, with buyers taking liquidity around the 4804 level. Key zones: 🔗 Supply zone (resistance): 4804, 4997 🔗 Demand zone (support): 4660, 4603, 4505 🔗 Three EMA moving averages; technical indicators: stochastic, volume Setup signal: 🔗 SELL XAU 4803 – 4808 stop loss: 4813 Take profit: 4780 – 4752 – 4720 🔜🔜🔜🔜🔜🔜🔜🔜🔜🔜 ✏️ Personal opinion: A technical rebound is in play, taking liquidity around 4808 while maintaining selling pressure amid a strengthening DXY.