$XAU Based on this 1D (Daily) chart, the overall trend still looks bearish to me.
📉 Key observations:
The price is trading below EMA 7, EMA 25, and EMA 99
The market is forming lower highs and lower lows
Strong selling pressure has been present since the 4594 area
A bounce occurred from the 4025 support zone,
but there is no confirmed trend reversal yet
The current green candle looks more like a relief bounce rather than the start of a new uptrend
As long as the daily chart stays below 4280–4300, I would treat this move as a corrective bounce within a bearish trend.
If the price retests 4025 and breaks below it, the chances of another strong drop increase significantly.
At the moment, I would say the market is bearish but attempting a short-term recovery. Buyers need a strong daily close above the resistance zone to confirm a trend change.
