Gold Spot: Major Base Building & Reversal Wedge SetupGOLD / U.S. DOLLARFX_IDC:XAUUSDake95221. Technical Overview & Structure Medium-Term Correction: Following its rally to a historic peak above the 5,500 zone earlier in the year, price action has been carving out a corrective descending channel capped by a clear downward trendline. Volume Profile & Support Cluster: A heavy concentration of High Volume Nodes sits in the lower range around 4,000 – 4,140, establishing a rock-solid structural demand zone and multi-month accumulation floor. Wedge Compression: Price is compressing into a tightening wedge pattern near key historical support, displaying classic signs of seller exhaustion and setting up a potential bullish breakout. 2. Key Price Targets (Fibonacci Projections) Short-Term Target (4,425 – 4,534): Aligned with early Fibonacci retracement/extension hurdles, acting as the initial resistance test on a breakout. Medium-Term Target (4,700 – 4,888): Corresponds to higher structural extension levels as bullish momentum builds. Long-Term Target (4,900+): Aligned with the upper trend projection, representing a full resumption of the macro bull trend toward previous highs. 3. Risk Management Invalidation Level / Stop Loss: A decisive breakdown below the 3,950 – 4,000 structural support zone would invalidate the reversal scenario and signal a deeper continuation of the correction phase.