XAUUSD: Could a Pullback Set Up Gold's Next Rally?GoldOANDA:XAUUSDAries_XauFlowGold has recovered sharply from the 4,066.579 low. Yet the next bullish move may depend on something less exciting than another breakout: a convincing higher low. Market Structure — Recovery, Not Full Confirmation The rebound has challenged the recent bearish sequence, but price is still below the major 4,217.767 high. The current chart places Gold near 4,165.420, beneath a resistance area around 4,170–4,182. This is where the difference between recovery and reversal becomes important. Bullish Scenario — The Pullback That Holds A retreat toward 4,156.025 and 4,146.793 would test the first support references. If those levels fail, the deeper 4,130–4,136 area is the next zone highlighted on the chart. A bullish reaction there, followed by a confirmed higher low and a break above the next significant swing high, would strengthen the recovery thesis. The upside references would be: 4,170–4,182: Immediate resistance. 4,199.509: Intermediate structural resistance. 4,217.767: Major structural high. Bearish Scenario — When the Recovery Weakens A decisive breakdown below the deeper support, particularly if followed by a failed reclaim and another lower high, would undermine the projected bullish continuation. Sellers would then have stronger grounds to challenge the recovery. The Bigger Picture Gold finished the week under pressure as stronger US inflation data kept Federal Reserve policy uncertainty in focus. But for Aries_XAU, price structure remains the primary guide. A pullback is only constructive if buyers prove they can defend it. Would you trust the first bounce from support, or wait for a confirmed higher high?