GOLD Analysis – 4H View

📉 Today, gold failed to bounce on the resistance trendline it had broken last week.
This led to a sharp drop throughout Tuesday’s session.

🔁 Currently, price is reacting around the 50% Fibonacci retracement of last week’s significant bullish move. This bounce might be purely technical.

🧭 The next move will likely depend on this week’s U.S. inflation data:

If inflation comes in line with expectations or decreases, we could see a shift towards a risk-on sentiment, causing further downside in gold.

However, if inflation rises again, gold could rally as a safe haven, especially given the current ongoing geopolitical tensions between Ukraine and Russia.

⚠️ If these tensions escalate further, it would strengthen gold’s role as a hedge, potentially triggering a new bullish leg.

➡️ The market is clearly waiting for a decisive macro catalyst, and the coming days could set the tone for gold’s next direction.