XAUUSD is maintaining a short-term bullish structure, repeatedly bouncing off the support trendline. However, a strong supply zone lies overhead around 4,100—a level that has previously triggered multiple price reversals. As the market awaits further US economic data, buying pressure remains insufficient to break through this resistance.

I anticipate another potential rally to test the 4,100 level; however, if the price faces rejection there again, selling pressure is likely to return and push the price back toward the 4,040 zone.

The preferred strategy is to SELL upon a reversal signal below 4,100, targeting the 4,040 level.