GOLD – Market Bias Remains Bearish DirectionGold vs US DollarICMARKETS:XAUUSDMR_GOLD_12Gold prices are showing weakness after testing key support levels. Despite geopolitical tensions, the fundamental backdrop remains weak, suggesting that the downside pressure could continue. From a technical perspective, gold rebounded on Tuesday after hitting a two-week low earlier in the session. Markets are awaiting key U.S. inflation data, while rising tensions involving the U.S. and Iran have pushed oil prices higher, reinforcing expectations that the Federal Reserve may keep interest rates higher for longer. Key Levels: - Resistance: 4040 / 4080 - Support: 3980 / 3950 Technically, the market appears to be forming a false breakout below the daily support level. If buyers manage to push the price toward the 4040–4080 resistance zone, it could provide an opportunity for sellers to re-enter the market. On the downside, the key reaction zone remains between 3980 and 3950. Hope you found this analysis helpful. 👍 Like, Comment & Follow for more updates. Trade safe.