Gold dips under $4,000 and gets bought: lower highs intactGoldOANDA:XAUUSDForexupgoGold tagged 3,987 this morning, the lowest print in 60 sessions, and buyers stepped in almost straight away. As I write this it's trading around 4,017, roughly flat on the day after yesterday's ~2.8% drop. My read of the daily chart: The bigger picture is still a downtrend. Look at the highs: 4,511 early September, then 4,400, 4,228, 4,217 and 4,199 on 15 October. Every bounce has stalled a bit lower. I've drawn that line in yellow. Until a daily candle closes above it, I treat rallies as rallies inside a downtrend, nothing more. Price is also under both moving averages. The 21-day sits near 4,144 and the 50-day near 4,302, and the 21 is pointing down. What's interesting is the reaction at $4,000. A round number, a fresh 60-day low and a quick bounce is often where short-term sellers take profit. That doesn't make it a bottom. It makes it a level. What I'm watching: – 3,987: today's low. A daily close below it says the bounce failed. – 4,066–4,074: the October lows that held twice. Broken support often turns into resistance, so I expect sellers there first. – The yellow trendline: the real test for any recovery. If you trade this with rules instead of feelings, the question is simple: does your system allow longs below the 50-day MA? Most trend filters would say no here, even with today's bounce. Crown Pips builds MT5 software where every rule like that is visible and switchable. Software, not signals. Not financial advice. CFDs are complex instruments and most retail accounts lose money.