XAU/USD Bulls Roar Back- Rebound Testing Pivotal ResistanceGold / U.S. DollarFOREXCOM:XAUUSDFOREXcomGold prices surged more than 3.7% into the start of the week, with XAU/USD mounting its largest single-day advance since May 6- that instance marked the monthly high in gold. Price is stalling into pivotal resistance today, and the focus is on possible price inflection off this level. XAU/USD has rallied more than 6.7% off the late-October lows with the advance exhausting today at the 10/21 reversal close at 4125. That decline marked the largest single-day range in the history and the focus is on today’s close with respect to this key threshold for guidance. XAU/USD broke above the median-line yesterday with today’s pullback testing this slope as support- look for possible inflection here over the next 24 hours. A slip back below the median-line exposes the 38.2% retracement of the late-October recovery at 4049. Note that basic channel support extending off last week’s low converges on this level over the next few days. Subsequent support rests with the 61.8% retracement and the November open at 3987-4002, with near-term bullish invalidation set to the monthly range low at 3930. Losses below this threshold would suggest a more significant correction is underway towards 3900 and the 50% retracement of the August rally at 3846. Key near-term resistance is eyed at the 1.618% extension of the late-October rally and the 61.8% extension of the decline off the record high at 4187/93. Ultimately, a topside breach / close above the 10/17 reversal close at 4252 is needed to mark resumption of the broader uptrend with subsequent resistance objectives eyed at the 2025 high-day close (HDC) and the record high at 4356/82, and the 1.618% extension of the yearly advance at 4553. Note that this level converges on uptrend resistance towards the end of the month- look for a larger reaction there IF reached. Bottom line: Gold has rallied back above the median of the yearly uptrend, with XAU/USD price action threatening to print a daily doji just below resistance. The setup highlights risk for price inflection off this zone in the days ahead. From a trading standpoint, losses would need to be contained to 4049 IF gold is heading higher on this stretch, with a close above 4193 needed to fuel the next major leg of the advance -MB