The daily chart of Gold (XAUUSD) shows that the market has respected the previous daily high. If the market price can sweep above this level and then close above it on the daily timeframe, a bullish engulfing pattern is expected to form, suggesting a potential bullish retest and upward movement. The current price is around 4923.36, with the previous high at 4951.29, and a failure point if it drops below the recent low at 4695.53.