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On the 1H time frame, XAUUSD gold is in a correction phase after being rejected from its all-time high near 4560. The strong decline from the highs reflects short-term profit taking and allocations rather than a clear reflection of the long-term trend. The price is reacting to the clear support area between 4345 and 4300, which was previously a consolidation area and is currently showing demand signals through rejection candles and slowing downward momentum. Market structure suggests a price base may be forming. As long as the price remains above 4300, a gradual recovery to 4390-4415 is possible and then to 4480-4520 as bullish momentum improves. A clear break below 4300 points will cancel the recovery prospects. This analysis is for educational purposes only.
