Technical Review – XAUUSD (Daily)

1. Price remains below a key daily supply (potential institutional order block), which is likely to act as resistance if retested.

2. The long-term ascending trendline has been tested multiple times and has now been broken, suggesting a weakening bullish structure.

3. Recent price action is forming a potential bearish flag. A confirmed break below the flag would increase the probability of continued downside.

4. Price is approaching the lower boundary of a larger wedge pattern. This support area should be monitored closely, as it may determine whether the bearish trend extends or a reversal develops.

Overall bias: The daily chart continues to favor a bearish outlook, provided price remains below the daily supply zone and fails to reclaim the broken trendline. A decisive break below the current support would strengthen the case for further downside.

Based on the current technical outlook, long-term physical gold investors may consider starting a gradual accumulation strategy. As always, accumulate in stages and manage your capital prudently while monitoring future market developments.