On the daily timeframe, XAUUSD showed a trend reversal after previously experiencing a significant bullish trend. Gold reached a price position of 2472.25, but then declined after failing to break the resistance line. Although currently in a bearish trend, gold’s position is still above the kumo cloud, which indicates that the previous bullish trend is still providing support. In addition, the stochastic chart shows an increase towards the 80 level, which indicates the potential for continued strengthening if the bullish momentum returns.