Gold (XAUUSD) Reflects Emerging Downside Bias As Momentum Fades

Market Analysis – December 4

Gold (XAUUSD) reflects emerging downside bias as momentum fades. Gold is beginning to show clearer signs of softening demand, with the broader structure gradually shifting toward a bearish recalibration. Price is now clustering around the short-term average near $4,170, marking a slowdown in upward commitment after multiple failed attempts to break through the $4,300–$4,310 ceiling. The RSI has also retreated from previous highs, signalling reduced buyer engagement and a shift from accumulation into early distribution.

Gold Key Levels

Resistance Levels: $4200, $4400, $4600
Support Levels: $3900, $3710, $3500

Gold Long-Term Trend: Bearish

The metal has approached the $4,300–$4,310 supply zone several times without securing a sustained breakout, reinforcing sustained seller strength at that level. Recurrent upper-wick rejections and a narrowing upward structure indicate that buyers are steadily losing control. A drop through the local trendline support near $4,200 would confirm a momentum shift and open the path for a deeper retracement toward the next value region around $3,900–$3,910. Price slipping beneath the short-term average further supports the emerging bearish tilt.

Looking ahead, the risk of an extended decline continues to increase as downward pressure builds across the current framework. A decisive break below $4,170, followed by weakness under $4,100, may accelerate selling interest toward the key lower zone near $3,900. Should bearish momentum persist, price could slide toward the $3,710 region. Unless buyers reclaim firm control above $4,300, the prevailing technical landscape points toward a sustained bearish phase rather than a renewed upward advance.

Gold Short-Term Trend: Bearish

Gold (XAUUSD) is encountering repeated rejection from the bearish order-block between $4,280–$4,360, signalling renewed downside pressure on the four-hour chart. Price has slipped beneath the 9-period SMA, indicating weakening momentum and reinforcing bearish dominance.

The inability to maintain levels above the $4,212–$4,200 support zone suggests that sellers are gaining full control following the recent lower-high formation. With structure continuing to weaken, a move toward $4,100—and potentially the $3,900–$3,890 region—appears increasingly likely, aligning with broader expectations often highlighted in forex signals.

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