GOLD → Consolidation before growth

XAUUSD is correcting from 3895 and forming consolidation with a key support area at 3854, below which lies a huge pool of liquidity. A deep correction is unlikely due to ongoing risks.

The suspension of NFP publication due to the shutdown and inflation creates uncertainty for Fed policy, as does weak employment data...
However, the resumption of government work will allow the publication of data on unemployment claims and factory orders, so increased volatility in the markets is to be expected on Thursday/Friday...
The correction in gold is a temporary pause. As long as US fiscal risks, labor market weakness, and geopolitical tensions remain, the uptrend will remain intact. The $3850 level is the nearest support.

Resistance levels: 3871.6, 3895, 3900
Support levels: 3854.5, 3831.3

The most likely scenario at the moment is a long squeeze in the 3854.5 liquidity zone before continuing to rise beyond 3900...

Best regards, R. Linda!