Gold remains under bearish pressure after rejecting the key 4,118 resistance and failing to establish higher highs. The recent pullback from the trendline confirms that sellers are defending the upper supply zone. Price is now approaching a minor resistance around 4,070–4,075, while an unfilled Fair Value Gap (FVG) above continues to act as a potential liquidity area.

As long as price stays below the 4,118 major resistance, the overall market structure remains bearish. A short-term rally into the 4,070–4,100 resistance/FVG zone could provide another selling opportunity if bearish rejection is confirmed. Failure to break above these levels may trigger a fresh decline toward the 4,000 support area, which remains the primary downside target.

Bias: Bearish
Major Resistance: 4,118
Resistance Zone: 4,070–4,100 (FVG)
Target: 4,000 Support Area
Invalidation: A confirmed close above 4,118 would weaken the bearish outlook.