Gold is currently trading around 4009 with consolidation, and the overall trend is weak.



On the 4-hour timeframe, the price has been falling steadily from the 4202 high, only bottoming out at 3959 and then stabilizing. It is currently in the rebound and repair phase after a sharp drop, and the larger downward trend has not reversed yet. The first resistance overhead is in the 4020-4030 range, with further heavy resistance around 4060. If the rebound lacks strength, the bears will remain dominant.

On the 1-hour timeframe, it is more straightforward: after hitting the low at 3959, the price rebounded to trade around the 4000 level, but with insufficient rebound momentum—so it is a weak rebound. Support is first seen at 3980; if it breaks, it is likely to test the 3960 area low again.

Trading suggestion: short lightly on the rebound in the 4020-4030 area, targeting 3980 and 3960.
$XAU
XAU-1.75%
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