Gold 4-hour analysis: Resistance moving down, the 4000 level may face a final decision
The recent movement of gold is very clear, with rebound highs continuously shifting lower.
After retreating from 4200, the price has repeatedly tested resistance around 4145 and 4110. Each rebound is suppressed by the descending trendline.
Currently, on the 4-hour chart:
A converging structure formed by a descending resistance line and the support at the round number 4000 level.
The market has not directly chosen a direction, but is constantly oscillating and consuming both bullish and bearish forces.
Pay attention below:
The round number level at 4000.
4000 has become the dividing line between bulls and bears.
If it manages to hold after multiple retests, it indicates that funds are supporting here and gold may have an opportunity for a bottoming rebound.
Before the trend is clear, don’t chase up or sell down; wait for the market to provide the answer.
