Gold is still trading inside a clear descending channel on H1, which keeps the short-term structure tilted to the bearish side. After the recent sharp drop, price is now bouncing back toward the middle of the channel and approaching the 4,791 resistance zone ā a key area to watch.
Key Technical Structure
The chart shows three clear elements:
Price is still trading inside a descending channel
4,791.683 is the key near-term resistance and decision zone
Below, the important downside levels are 4,725.500, 4,695.129, and deeper at 4,611.720 ā the main liquidity zone
That tells us the market is not in a confirmed bullish recovery yet.
It is still rebounding inside a bearish structure, which means seller reaction remains likely around resistance.
Todayās Trading Strategy
Prefer selling the rally
With the current structure, the better approach is:
wait for price to push into resistance
watch the reaction around 4,791
favor sell setups if clear rejection appears
Key downside targets
4,725
4,695
4,611
What weakens the bearish idea
a clear breakout above 4,791
price holding above that zone
a clean escape from the descending channel
Conclusion
Gold is still trading inside a bearish H1 structure, and the current rebound still looks more like a move back into resistance than a confirmed reversal.
Todayās Bias: Bearish while below 4,791
rejection at 4,791 ā downside toward 4,725
break below 4,725 ā opens room toward 4,695
deeper downside still points toward the 4,611 liquidity zone
In a downtrend,
the edge is not buying every bounce ā it is waiting for price to rally into the right level and trading with the main structure.