Gold is attempting to recover, yet buying momentum quickly stalls whenever the price approaches the downward-sloping resistance line. Consequently, the area around 4,090 appears more like a distribution zone than the starting point of an uptrend.

On the downside, the 3,990 level is the likely target should the price continue to fail against the downtrend line. Persistent pressure from the US dollar and US yields also limits the potential for a gold breakout.

I lean towards a scenario where the price undergoes a brief period of consolidation below the resistance zone before weakening back toward 3,990. Only a decisive 4-hour (H4) close above 4,090 would truly alleviate the current selling pressure.