Gold's Price Odyssey: From ATH to Reversals – Where Next?

The past two weeks have been marked by significant volatility in the price of $OANDA:XAUUSD. Initially, Gold experienced a strong spike, reaching a new all-time high at 2150. This was followed by a robust reversal, causing the price to drop below 2,000 and breach several crucial support levels. To add to the complexity, the price surged once again last week, reclaiming levels above important resistance, only to stabilize within the familiar range of 2020 to 2050.

These tumultuous market movements raise a pertinent question: What is the medium-term direction?

On one hand, the overall trend remains bullish, and as long as the 2010-2015 zone remains intact, this trend is likely to persist.
On the other hand, a substantial reversal from the all-time high suggests the possibility of a medium-term trend change.

In conclusion, I will closely monitor the specified support and resistance levels. A decisive break above or below these levels could provide more clarity, at least in theory.