XAUUSDGoldOANDA:XAUUSDHAMED_AZHello Traders! 👋 What are your thoughts on Gold? Gold has been trading within a major support zone around the 4,000 level for several weeks. Despite repeated selling pressure, this area has been defended multiple times, highlighting strong buying interest. Meanwhile, price continues to compress beneath a descending trendline, creating a tightening range that often precedes a sharp directional move as volatility contracts. Bullish Scenario (Base Case) The short-term base case remains bullish. If price breaks above the descending trendline and secures a daily close above it, a bullish breakout from the current compression pattern would be confirmed. Such a move is expected to attract fresh buying momentum, with the first upside objective located around the 0.618 Fibonacci retracement at 4,345. Bearish Scenario The bearish scenario would become active if sellers manage to break below the 4,000 support zone and achieve a confirmed daily close beneath it. Such a breakdown would invalidate the current bullish outlook and likely trigger another wave of selling pressure. In that case, price is expected to decline toward the 0.786 Fibonacci retracement near 3,756, which also coincides with the lower boundary of the broader descending channel. After several weeks of trading within a tight range, Gold is approaching a critical decision point. The ongoing decline in volatility and price compression suggests that the market is preparing for a significant move. While both bullish and bearish scenarios remain valid until a confirmed breakout occurs, the short-term base case continues to favor the bullish outlook. However, for a higher-probability setup, it is better to wait for a confirmed breakout above resistance or below support before considering a position. What do you think? Will Gold break above the descending trendline and resume its bullish momentum, or will the 4,000 support finally give way and trigger a deeper correction? Share your opinion in the comments below! If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️