XAUUSD Bullish Reversal Setup: Targeting 4,041 From Key SupportGoldOANDA:XAUUSDGold_Market_MindXAUUSD (Gold) 15M Technical Analysis Market Structure Gold remains under short-term bearish pressure after a strong selloff from the 4,090 area. Price is trading below the 9-period moving average, indicating sellers still control momentum. However, the latest candles show a reaction from a key support zone. Key Levels Support Zone: 3,940 – 3,950 Current Price: ~3,977 Target Resistance: 4,041 Stop Loss Area: 3,916 Trade Idea (Bullish Rebound Scenario) The chart highlights a potential buy setup from the support zone around 3,949. If buyers successfully defend this level and price forms bullish confirmation, a recovery move toward 4,041 becomes possible. Entry Zone: 3,945 – 3,950 Target: 4,041 Stop Loss: 3,916 Confirmation Signals ✅ Bullish rejection wick from support ✅ Break above recent lower highs near 3,990–4,000 ✅ Moving average crossover and sustained closes above the 9 SMA Risk Factors ❌ A decisive break below 3,940 would invalidate the bullish setup. ❌ Increased selling volume below support could accelerate downside toward 3,920 and lower. Conclusion XAUUSD is testing a significant support area after a sharp decline. The setup favors a bullish bounce from 3,949 support, targeting the 4,041 resistance zone, provided buyers maintain control above support. Traders should wait for confirmation before entering and manage risk below 3,916.