Has Gold Bottomed? Buy-the-Dip Setup Near 4,020GoldTVC:GOLDMihai_IacobAfter a range-bound Monday, Gold once again fell below the 4,000 zone yesterday, only to recover strongly from the latest downside spike. The price broke above short-term resistance at 4,030 and reached the 4,070 area during overnight trading. The 4,070–4,085 zone is the confluence resistance I’ve discussed over the past two days. Gold pulled back from that area, but the decline found support around 4,030—the resistance level broken yesterday. That raises the question: has Gold formed a short-term bottom? The Fed’s decision Today’s Fed decision is expected to leave rates unchanged. The market’s main focus will be on any clues about the possibility of a rate hike in December. A signal that rates are likely to remain on hold could support Gold, while a "hike message" could weigh on it. But those outcomes are widely anticipated, so I expect the technical picture to matter more. Technical outlook Gold has retreated from resistance, but yesterday’s rally was strong. So far, the pullback looks more like a correction of that upward move than the start of another leg lower. That leaves me slightly bullish in the short term, with a potential test of 4,100. However, the entry level matters more than the direction. From a risk perspective, I would prefer to buy a dip around 4,020; at higher prices, the trade would be less attractive. Conclusion I’m slightly bullish and looking for a possible move toward 4,100, but I would want to see Gold pull back toward 4,020 before considering a long trade. The broader bearish trend cannot yet be considered over, so the level of entry—and the risk it allows—matters more than simply having a bullish view.