FX.co ★ XAU/USD, GOLD

On the 30-minute timeframe for the Gold trading instrument, the following technical picture is observed. The price opened with a gap, which creates conditions for its subsequent closure, as the market often tends to "fill" such liquidity gaps. The current structure indicates a likelihood of movement towards closing the gap with a possible continuation of the uptrend. I expect that after the closure of the gap, the price may test the horizontal resistance line at the level of 4883. Near this level, activation of sellers is likely, leading to a potential reversal reaction. If a bounce occurs from the 4883 level, it may lead to the development of a downward movement and correction. However, in the event of a breakout and consolidation above this resistance, the reversal scenario will be invalidated, and the uptrend may continue towards the next levels.