Maintain accumulation below the descending trendline at 4100.

Jul 15

1. Trend
Short-term bias: Bearish.

Price remains below the long-term descending trendline, confirming sellers are still in control.
EMA9 is below EMA89, maintaining bearish momentum.
The market continues to form Lower Highs (LH) and Lower Lows (LL).
The recent CPI-driven rally was rejected near the trendline and quickly sold off, reinforcing the downtrend.

2. Key Resistance
4,052–4,055

Immediate resistance.
Previous support turned resistance.
Near EMA9 and the current consolidation zone.

4,080–4,086

Major resistance.
Confluence of the descending trendline, EMA89, and a supply zone.
A rejection here could trigger another bearish leg.

4,104

Strong resistance.
Recent CPI spike high.
A H1 close above this level would weaken the current bearish outlook.

3. Key Support
4,040

Immediate support.
Price is currently testing this level.

3,987–3,990

Major support.
Previous swing low and key demand zone.
A break below could extend the decline toward 3,960–3,950.

4. EMA Analysis
EMA9 remains below EMA89, keeping the short-term trend bearish.
Price is trading below both EMAs, suggesting rallies are more likely to be corrective unless resistance is broken.

5. RSI (14)
RSI is around the mid-40s.
Momentum has cooled after the CPI spike.
There is room for another downside move before the market becomes oversold.

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SELL GOLD zone : 4094 - 4096

SL : 4102

TP : 4080 - 4062 - 4044

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Jul 15

Trade active

Selling pressure - gold price falls back to around 4025, trades sideways and continues to gradually decline to 4000.