Gold Faces Rejection—Bears Eye Focus Break BelowGoldOANDA:XAUUSDTrade_ActionTechnical Overview Trend: Bearish in the short term. Resistance: 4,140–4,185 (major supply zone). Current Price: Around 4,124. Immediate Support: 4,060. Major Support: 3,980–3,960 demand zone. Price Action Price attempted to recover but was rejected below the resistance area. Multiple lower highs indicate weakening bullish momentum. The recent sharp bearish candle signals increased selling pressure. Supertrend remains below price but is close enough that a break beneath it could trigger a stronger bearish move. Bearish Scenario If sellers maintain control and price closes below 4,060, the next downside targets are: Target 1: 4,020 Target 2: 3,980 Target 3: 3,960 (major support zone) This aligns with the projected downside path shown on the chart. Invalidation The bearish outlook would weaken if buyers reclaim and close above 4,140, with a stronger confirmation above 4,180, which could shift momentum back toward the bulls. Conclusion The bias remains bearish while price stays below the 4,140 resistance. A confirmed break below 4,060 would likely accelerate selling pressure toward the 3,980–3,960 support zone.