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On the 4-hour chart, gold prices are still facing significant negative pressure, continuing to trade below the main downtrend, while the price failed to break through the key resistance area near 4479 and break out of the downtrend.

The price has retested the broken support level, combined with the lower boundary of the sideways movement, which strengthens the possibility of completing the decline in the period ahead, especially if the MACD indicator continues to be negative and buying momentum is weak.

🔽 Sales is the master of the situation
Stabilization below the descending leg level supports the continuation of selling pressure, while a breakout of support (the last bottom) is a signal to initiate selling. The main target shown in the chart is the 4253 level.

📈 Cancel this analysis
Breaking downtrend, we retain negative scenario for now

🔴How to enter
Wait for the MACD to confirm the sell and the price remains below the downtrend, then enter the sell while maintaining a proper stop above the resistance.

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