*XAUUSD Structure*
Bearish continuation still active. Bounce failed quickly. Price remains near session lows around 4631 after sharp selloff from 4698. No bullish structure shift yet.
*Zones*
Supply: 4635–4641 (immediate bounce cap)
Major Supply: 4648–4655
*Demand:* 4622–4626 (fresh low zone)
Major Demand: 4615–4620
*FVG:* 4633–4638 bearish imbalance
*BULLISH*
Only if strong reclaim above 4641 + hold retest.
Momentum
* MACD deeply bearish though histogram slightly slowing
* Stoch RSI bouncin
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