GC1! 1H Premarket: Coiling 4034-4075 After 4156 RejectionGold FuturesCOMEX:GC1!CFlo17Gold is boxed between the 4034.1 overnight low and the 4074.7 overnight high after yesterday's drop from 4156.2. The 8:20 pit open should decide which side gives. Market structure Daily: the rally off 3879.3 failed at 4156-4158 and yesterday closed near the low; below the 20D, 50D and 200D 1H: lower highs (4157.7, then 4074.7), with a higher low at 4034.1 above yesterday's 4020.8 Overnight stayed inside yesterday's range, below the prior pit POC at 4058.5 Key levels Resistance: 4058.5 pit POC, 4074.7-4081.1 ON high / 1H bear FVG, 4090.5-4117.2 4H bear FVG, 4156.2 PDH Support: 4040.5 settle, 4034.1 ON low, 4020.8 PDL, 3981.7-4020.8 daily bull FVG, 4000 round number Bull case Hold 4034.1-4040.5, then a 1H close above 4081.1 Targets: 4090.5-4117.2, then 4156.2 Invalidated by a 1H close below 4034.1 Bear case Rejection at 4074.7-4081.1, then a break of 4034.1 Targets: 4020.8, then 3981.7-4020.8 / 4000 Invalidated by a 1H close above 4081.1 My chart runs on delayed data, so prices may lag live. This is my read of the chart, not financial advice.