Gold is currently trading within a range and has responded strongly from the major resistance area.
The price rushed to the upper border and showed rejection, indicating possible weakness and a possible move towards support. The structure remains range-bound, making this a potential selling opportunity from the top of the range.
If sellers maintain their control below the resistance level, we could see a continuation of the downtrend.
📊Main levels:
• Resistance: 4,790 – 4,800
• Current zone: Rejection zone
• Support targets: 4,740 → 4,700
📉 Bias:
Bearish while price remains below resistance.
⚠️ Watch for confirmation (rejection candles/lower highs) before continuing.
