Recovery following the trendline above 4600GoldOANDA:XAUUSDNova-ScalperGOLDEN INFORMATION: Gold (XAU/USD) remains on the back foot through the Asian session on Monday, though it lacks follow-through and manages to hold above the $4,600 mark. Major central banks, including the US Federal Reserve (Fed), have turned hawkish in the wake of concerns that energy shocks stemming from geopolitical tensions in the Middle East would revive inflationary pressures. This, in turn, is seen as a key factor undermining demand for the non-yielding yellow metal. US President Donald Trump announced a plan to guide ships stranded in the Gulf through the Strait of Hormuz under a project called "Project Freedom" and also warned that if this process is disrupted, it will be dealt with forcefully. Top Iranian lawmaker Ebrahim Azizi said that any US interference in the strategic waterway will be considered a violation of the ceasefire. Adding to this, Iran's Islamic Revolutionary Guard Corps (IRGC) accused the US of failing to honour agreements and said that renewed hostilities are likely. This casts doubt over diplomatic efforts to end the war amid a lack of progress in US-Iran peace talks and helps limit the downside for Crude Oil prices. ⭐️Personal comments NOVA: H1 is moving above the ascending trendline, consolidating and recovering slightly above 4600. ⭐️SET UP GOLD PRICE 🔥SELL GOLD zone: 4658 - 4660 SL 4668 TP1: $4630 TP2: $4602 TP3: $4566 🔥BUY GOLD zone: 4520- 4518 SL 4510 TP1: $4544 TP2: $4570 TP3: $4602 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas . ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account