Yesterday, the gold price opened with a gap and jumped higher, rising as high as 4116 before meeting resistance and pulling back. Toward the close, it settled around 4080.

From the four-hour timeframe, the recent highs have been continuously moving lower, forming a standard downtrend, and the bearish structure remains intact.

At present, the bullish rebound strength is weak; there is clear overhead pressure on the bulls. Upside momentum is limited, so don’t chase after spikes.

There is no major market-moving news or data within the day; gold is likely to keep trading in a range. Just trade back and forth as you see fit.

Trading suggestion: short around 4075 and 4090, with targets at 4000 and 3950.