Sell Premium Rejection Below TrendlineGoldOANDA:XAUUSDGold_Prime_SmcMarket Context Gold is trading around 4,043 after rejecting the 4,070–4,080 Premium POI. The Fed kept rates unchanged at 3.75%–4.00%, while inflation remains elevated and markets are now focused on the latest U.S. PCE data. This keeps rate expectations and USD/yield movements as key short-term drivers for Gold. SMC View The short-term structure remains constructive after a Bullish MSS and BOS, but price is now reacting below the Premium POI and remains capped by the broader bearish framework. The current pullback is approaching the Internal Demand zone around 4,020–4,030, aligned with the rising trendline. For the bearish thesis, this area should be treated as a reaction point rather than an automatic reversal. A failure to reclaim the Premium POI would keep downside repricing valid. Main Trading Scenario Sell Priority: 4,070–4,080 Premium POI If price retraces into the Premium POI and shows bearish rejection with lower-timeframe displacement, the bearish scenario could resume toward 4,020–4,030 Internal Demand and potentially 3,990–4,000 HTF Demand. The bearish thesis weakens if price decisively reclaims and holds above the Premium POI. Key Zones to Watch 4,070–4,080: Premium POI / major rejection area 4,020–4,030: Internal Demand + trendline support 3,990–4,000: HTF Demand 4,105: External BSL / upside liquidity Prime Gold View The broader bias remains sell, but price is currently sitting between premium resistance and internal demand. The cleanest bearish structure would be a retracement into premium followed by confirmed rejection. Until that develops, the current move should be treated as a corrective phase rather than assumed continuation.