Bullish rebound (needs confirmation)Gold (XAUUSD)CAPITALCOM:GOLDSMC-Trading-PointSupport zone: ~4,680–4,700 If this breaks cleanly → downside continuation likely. Resistance / Targets above: 4,774 → first resistance (near 200 EMA) 4,833 → stronger resistance 4,891 → major upside target (previous high area) 📊 Likely Scenarios 1. Bullish rebound (needs confirmation) Price holds support AND breaks above the descending trendline Then: First move → 4,774 Continuation → 4,833 → 4,891 This would signal trend reversal attempt 2. Bearish continuation (still the dominant structure) Price fails to break the channel and rolls over Break below 4,680 → opens further downside This aligns with current momentum + lower highs ⚠️ What matters most now Reaction at trendline + 50 EMA Whether buyers can defend the support zone again A clean breakout vs rejection at ~4,740–4,770 area Bottom line Right now, this isn’t a clean buy yet. It’s more like: “Wait for confirmation” if bullish “Trend-follow short bias” if resistance holds