XAUUSDGoldOANDA:XAUUSDHAMED_AZHello Traders! 👋 What are your thoughts on Gold? Gold continues to trade above the major 4,000 support zone, an area that has repeatedly attracted buyers over the past several weeks. Despite persistent selling pressure, bears have failed to produce a decisive breakdown, highlighting the importance of this demand zone. At the same time, price remains compressed beneath a descending trendline, creating a tightening range as volatility continues to decline. Such conditions often precede a strong directional move, making the next breakout particularly important. Bullish Scenario (Preferred) The short-term outlook remains cautiously bullish. A confirmed daily close above the descending trendline would validate a bullish breakout from the current consolidation and could trigger fresh buying momentum. In that case, the first upside target would be the 0.618 Fibonacci retracement around 4,345. An additional positive technical signal is that Gold managed to close the week above the psychological 4,000 level. Holding this support into the weekly close suggests buyers are still defending this key area and strengthens the bullish case going into the new week. Bearish Scenario The bearish outlook would only gain confirmation if price breaks below the 4,000 support zone and secures a daily close beneath it. Such a move would invalidate the current bullish structure and likely accelerate selling pressure toward the 0.786 Fibonacci retracement near 3,756, which also aligns with the lower boundary of the broader descending channel. Gold is approaching a critical inflection point. The ongoing compression between support and trendline resistance suggests that a significant move may be close. While both bullish and bearish scenarios remain valid until price confirms its direction, the technical structure continues to slightly favor the upside as long as the 4,000 support remains intact. Waiting for a confirmed breakout—either above resistance or below support—offers the highest-probability approach before committing to a new 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? Share your thoughts in the comments! If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️