Gold Recovers After Sharp Selloff (READ THE CAPTION)

[Arman Shaban]

By analyzing the Gold (XAUUSD) chart on the 30-minute timeframe, we can see that yesterday, following the announcement of peace between Hamas and Israel, gold experienced a sharp drop — falling from $4029 to $3943, which means a decline of over 850 pips (and about 1140 pips from the $4058 level!).

After reaching the demand zone between $3941 and $3951, buyers stepped in, pushing the price back up to around $4022. Following this strong rebound, gold has started a short-term correction back toward the $4000 level.
Now, the key question is whether the price can hold above $3994 — if it does, we could see another bullish move.
The next upside targets are $4006, $4016, and $4028.