Gold opened the new trading week with a bullish gap, reflecting positive sentiment at the market open. However, buyers were immediately rejected around the 4060–4080 resistance zone, showing that sellers are still defending this area aggressively.

Price is now trading between a rising support trendline and overhead resistance, creating a short-term consolidation range. This compression suggests that both buyers and sellers are waiting for a catalyst before committing to the next directional move.

Despite the rejection, the broader recovery structure remains intact as long as gold continues to defend the 4035–4045 support zone and the ascending trendline. The current pullback appears more like a healthy retest than a confirmed reversal, keeping the short-term bias tilted toward the bullish side.

The preferred strategy is to remain patient and buy confirmed breakouts rather than chasing price inside the range. A decisive break above 4060–4080 would confirm renewed bullish momentum and expose the next upside objectives at 4110–4120, followed by the major resistance around 4155–4165.

📍 Key Levels

🔹 4035–4045
Primary support zone and ascending trendline support.

🔹 4060–4080
Immediate resistance and breakout confirmation area.

🔹 4110–4120
First upside target after a confirmed breakout.

🔹 4155–4165
Major higher-timeframe resistance and medium-term target.

🔹 Below 4025
A sustained break below this level would weaken the current bullish structure and shift momentum back to the downside.

✅ Preferred Scenario
Price continues holding above 4035–4045 support.
Avoid trading inside the current consolidation range.
Wait for a confirmed breakout above 4060–4080 before adding Buy positions.
Upside targets remain 4110–4120, followed by 4155–4165 if bullish momentum strengthens.