XAUUSD M15: Waiting for a Pullback to Continue the RecoveryGoldOANDA:XAUUSDpullbacksignalGOLD Gold has bounced strongly from the 3899 support area, but price is still trading below the descending trendline. The broader short-term structure remains under pressure. Rather than chasing the recent bullish candle, the better approach is to wait for a pullback into the 3914–3923 support zone and look for bullish rejection on M15. Key Levels Pullback zone: 3914–3923 Invalidation: 3899 TP1: Descending trendline – around 3948, depending on its position when price reaches it Day trading target: 3970 Short-term target: 4009 The first target is the descending trendline. This is an important reaction area where taking partial profit makes sense. If buyers manage to break through it, 3970 becomes the next target, followed by 4009. If price breaks below 3899, the bullish setup is invalidated. Economic Factors to Watch Gold is also facing pressure from the inflation outlook. Higher oil prices and renewed geopolitical concerns have raised inflation worries, which may support expectations of tighter Federal Reserve policy and weigh on non-yielding gold. Today, the US economic calendar includes Factory Orders and JOLTS Job Openings. The US midterm elections are also in focus, so volatility and sudden price reactions are possible. The technical setup needs confirmation regardless of the news flow. Risk Warning: This is technical analysis, not financial advice. Wait for confirmation, define your stop-loss and manage position size carefully. Gold can move sharply, especially around economic releases.