The chart of Gold (XAU/USD) on the 15-minute timeframe shows a clear transition from a bearish structure into a short-term bullish reversal. Initially, the market was forming lower highs and lower lows, but the appearance of an MSS (Market Structure Shift) marked the first sign of buyer strength. This was followed by a strong impulsive move upward, confirming a change in character. Price then created a BOS (Break of Structure), establishing a higher high and signaling that bullish momentum is gaining control. However, after this breakout, the market entered a corrective phase, pulling back from the highs as profit-taking and short-term selling pressure emerged.
Currently, price is retracing into a marked demand zone, which aligns with a previous area of liquidity and imbalance. This zone is likely to act as a key support level where buyers may re-enter the market. The projected scenario suggests a potential continuation to the upside if this demand area holds, with price targeting higher levels above the recent highs. However, failure to maintain this zone could invalidate the bullish outlook in the short term and lead to deeper retracement toward the lower demand area. Overall, the structure favors bullish continuation, but confirmation through price action within the highlighted zone remains essential before considering long positions.
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