Gold has recently pulled back after reaching a new high, indicating a potential bearish trend. However, the market has largely been driven by fundamental factors, both political and economic, and more such factors are anticipated. This makes it difficult to be completely certain of a bullish or bearish trend. The market direction could change with the uncertainty surrounding the Federal Reserve's decision on interest rate cuts. Although our analyses primarily focus on swing setups and observe a bearish trend in gold, we anticipate a reversal that could retest the recent high before the bearish trend continues.