Gold prices gapped higher on Monday following a weekend easing of tensions between the US and Iran. However, recent gold price action has been lackluster, with rallies followed by pullbacks. Today was no exception, with gold rising and then falling back, continuing its overall range-bound movement. This week is a data week, and it will be crucial to see if the data can provide any new opportunities for gold.

From the daily chart, gold prices are currently holding above short-term moving averages, with the $4000 level providing strong support, indicating a complete halt to the previous downtrend. The double-top resistance at 4115-4120 remains effective, with multiple attempts by bulls to break through failing, and the market continuing to erode previous gains. Short-term upward momentum is limited, and a new trend is unlikely to begin.

From a 4-hour chart perspective, after breaking below the previous consolidation range, gold prices stabilized in the $4020-$4030 range. The Bollinger Bands are widening downwards but showing signs of narrowing. Short-term moving averages remain in a bearish alignment, and gold's rebounds continue to face pressure from the 5-day and 10-day moving averages. The overall trend for gold has not yet completely reversed.

Today's Trading Signals:
Sell gold in batches around $4090-$4100, with a stop-loss at $4120 and a target of $4060-$4040.

Buy gold in batches around $4030-$4030, with a target of $4060-$4080 and a stop-loss at $4000.