Gold rebounds? Latest analysis here.GoldOANDA:XAUUSDMarket_Trader1Gold faced resistance and declined around the $3900 level, with significant downward pressure, confirming strong support at the 5-day moving average (3830-3820). The daily trend has been consistent this week, with the market repeatedly testing and finding support at the 5-day moving average. If this pattern continues, gold is likely to test the 10-day moving average on Friday, potentially stabilizing and consolidating around that level. If the 10-day moving average is broken, the price is likely to fall further, approaching the middle Bollinger Band. The 1-hour chart shows that the resistance zone of 3855-3890 has been broken to the downside, with 3855 now acting as short-term resistance. On Friday, during the Asian session, the price is likely to initially test 3860, potentially triggering further declines. However, if the 1-hour chart breaks above this level and sustains upward movement, adjust your trading strategy accordingly. If the downward trend continues, key support levels to watch are 3800-3790.