Gold Technical Analysis: Rebound Fails Under Pressure, Pullback Gold / U.S. DollarFOREXCOM:XAUUSDRiley-GoldGold Technical Analysis: Rebound Fails Under Pressure, Pullback Trend Continues Market Review and Core Viewpoints Last week, it was clearly pointed out that gold prices would face strong resistance near the $4100 level, and short positions were recommended at this level. In reality, the technical rebound correction has been effectively confirmed, with gold prices clearly facing resistance and falling back below $4100, validating the recent bearish assessment. Today, gold opened at $4079/oz. After a slight rise to around $4086 in the early morning, it encountered resistance and pulled back. Overall volatility was limited, but the selling pressure signals above were quite clear. Geopolitical Perspective Regarding the US-Israel-Iran situation, reaching a permanent ceasefire agreement in the short term is extremely difficult, and the market is unlikely to see any substantial signs of easing. However, it should be emphasized that geopolitical disturbances primarily affect short-term sentiment fluctuations. The medium-term bearish trend for gold prices remains unchanged, and the main trading strategy remains to sell on rallies. Technical Analysis 4-Hour Chart Structure Short-term Resistance Zone: $4085-$4090/oz, a consistently effective resistance zone. This morning's trading saw a pullback from this area. Key Resistance Zone: $4100-$4115/oz. The failure to break through the $4100 level last Friday further confirms strong selling pressure in this area. Trend Judgment: The overall downtrend remains unchanged. The current rebound is a correction, not a trend reversal signal. Support Targets First Target: $4000-$4010/oz Hold short positions if it breaks below this level, targeting lower levels. Today's Trading Strategy Main Idea: Continue to position based on the rebound resistance level, following a downtrend strategy. Short Position Operation Plan: Primary entry range to watch is around $4085-$4090. If a rebound to the $4058-$4065 area occurs during the day, it can be considered an opportunity to add to the position. Stop-loss orders should be set above $4083 to strictly control risk. The initial target is the 4000-4010 area. If it breaks below this level, the position can be held to potentially profit from a deeper pullback. Key Trading Points: Conservative traders can consider shorting in batches with small positions around 4045-4040. For opportunities to add to positions on rebounds, watch the 4058-4065 range. The stop-loss should be strictly placed above 4083 to avoid being whipsawed by short-term spikes. The initial target is 4000-4010. If it breaks through, hold the position accordingly. Summary and Reminders: The gold rebound correction has been technically confirmed. The 4100 level has provided effective resistance, and the short-term trend remains primarily one of consolidation and pullback. Until a clear trend reversal signal appears, it is recommended to maintain a bearish outlook, strictly adhere to stop-loss orders, and enter positions in batches. If you found this analysis helpful, please like, save, and share it so more people can see it. Any questions or issues with your positions are welcome in the comments section. Thank you for your support, see you during the trading session! 📉📊