Gold (XAU/USD) continues to trade in a narrow range around the $4,000 psychological level after falling to a fresh seven-month low of $3,941. While selling pressure has eased, the broader technical structure remains bearish, with buyers still lacking enough momentum to confirm a meaningful trend reversal.
The current price action reflects market indecision as traders await the next catalyst to determine Gold's direction.

📉 Technical Analysis
Gold remains trapped in a consolidation phase following its recent sharp decline.
Momentum indicators suggest bearish pressure is fading but has not yet disappeared:
RSI (14): Shows a bullish divergence, indicating that downside momentum is weakening.
MACD: Remains slightly below the zero line, suggesting that buyers are still struggling to gain control.
Unless key resistance levels are broken, any short-term rebound is likely to remain corrective.

🟢 Key Support Levels
$3,970 – Immediate support
$3,941 – Seven-month low
$3,886 – October 2025 low
$3,860 – Fibonacci extension target
A decisive break below $3,941 could trigger another wave of selling toward $3,886–$3,860.

🔴 Key Resistance Levels
$4,060 – Initial resistance
$4,096 – Weekly resistance
$4,215 – Major resistance zone
A sustained move above $4,096 would improve short-term sentiment, while a break above $4,215 would be needed to signal a stronger bullish recovery.

📊 Market Outlook
Gold remains under bearish pressure despite signs of stabilization around the $4,000 level. The broader trend continues to favor sellers, and rallies may continue to attract selling interest until price establishes itself above the major resistance zone.

🎯 Trading Bias
Short-Term: Bearish 📉
Medium-Term: Bearish 📉
Key Resistance: $4,060 – $4,096 🔴
Key Support: $3,941 – $3,970 🟢

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