After breaking out of the descending channel and retesting the breakout area (yellow circle), the market moved sideways and accumulated above the new support area. This suggests buyers are taking back the initiative.

Early next week, if the price continues to hold above the 4,050-4,060 area, XAUUSD is likely to rebound following the recovery wave pattern and head towards the 4,155-4,160 target. This area coincides with the next resistance area and the liquidity level above.

The short-term trend is positive, and it is recommended to give priority to buying based on the slight correction on the first trading day of this week.

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