XAU/USD · LONDON OPEN · 21 OCT 2026
Structure is bearish (Price Agent), but oversold StochRSI 4.5, a positive MACD histogram, and a clean daily Bullish Engulfing plus H1 Bullish Engulfing/Pin Bar hint at a counter-bounce toward the 4129.65 cap; low ADX means the bearish structure lacks conviction.
Price sits below all four EMAs near the lower Bollinger band, 1H prints lower highs capped at 4129.65 and the daily made a lower low. Headlines flag breakdown risk and Fed tightening bets, though oversold Stoch RSI and a low ADX leave room for a bounce.
A sustained break and hold above R1 (4153.0) would invalidate bearish pressure.