XAUUSD: Sellers Remain in Control Below the Downtrend LineGoldOANDA:XAUUSDParadise_NoirFollowing a strong rebound from the support zone, gold failed to sustain its upward momentum, facing repeated rejection at the downtrend line that has persisted since the start of the week. Each approach to the resistance zone triggered fresh selling pressure, resulting in a series of lower highs—a clear indication that sellers remain in control. Fundamentally, the US dollar has remained stable as the market continues to weigh the likelihood of the Federal Reserve maintaining high interest rates for a longer period, while elevated oil prices stoke inflation concerns. These factors continue to weigh on gold, suggesting that recent rebounds are primarily technical in nature rather than the start of a new uptrend. On the H1 chart, the price is fluctuating within a contracting triangle pattern just below the downtrend line. The preferred scenario involves a price retest of the 4,055–4,060 zone, followed by a rejection and a breakdown below the 4,020 level, potentially paving the way for a deeper decline toward the 3,992 area.