Gold is marginally higher on the day, with a gain of around $9 to $4,169, but the rebound is having trouble getting above the falling 100-hour moving average near $4,180.40. That keeps the sellers more in control despite today’s modest gain.Friday’s resistance cluster set the stage for the declineRecall from last Friday, the price of the precious metal tested a key resistance area on the topside that included four separate technical levels: the 100-hour moving average, the 200-hour moving average, the 100-day moving average and the 50% midpoint at $4,319.75. Those levels converged near $4,319, giving sellers a clearly defined area to lean against and limit their risk.The sellers leaned. The buyers could not push through. The price rotated lower, and the selling accelerated.That decline took gold below the 61.8% retracement at $4,230.70 and eventually back toward the August breakout swing area near $4,115.61. Buyers found support there, slowing the decline and starting a corrective bounce.However, finding support is only the first step. To take more control, buyers also need to get above resistance—and stay above it.Buyers had their shot at the 100-hour moving averageYesterday, the rebound briefly took the price above the 100-hour moving average, but that break failed quickly. The buyers had their shot. They missed. Today, the price has again approached the falling moving average, but buyers have yet to establish a sustained break above it.That leaves $4,180.40 as the immediate hurdle. Move above and stay above, and the short-term picture improves for buyers, with the broken 61.8% retracement at $4,230.70 becoming the next upside target. Getting above the moving average would be a first step. Reclaiming the retracement would be another.The $4,115.61 swing area remains the next downside targetConversely, continued resistance at the 100-hour moving average keeps sellers in control and leaves the $4,115.61 swing area as the next downside target.That area attracted buyers on the latest decline. A retest would give them another opportunity to defend support. Hold above it, and buyers keep the possibility of another rebound alive. Break below and stay below, and the downside becomes more vulnerable, with $4,000 the next marked reference.The trading lesson: A gain does not mean a change in controlThe educational point is that a higher price on the day does not necessarily mean buyers are in control. Gold is up modestly, but the rebound remains capped by a key technical level. Buyers need to prove they can reclaim that resistance and hold above it. Until then, the sellers retain the advantage.In the video, I take a closer look at those levels and the steps buyers need to take to turn this bounce into a more meaningful recovery. This article was written by Greg Michalowski at investinglive.com.