*XAUUSD Overview*
Gold remains under pressure on the 1-hour chart, trading below the descending trendline and struggling to hold above the 4,029–4,040 support zone. Price action is forming lower highs, indicating that sellers continue to dominate unless a decisive breakout occurs.
*Bullish Scenario*
If XAUUSD manages to hold above 4,029 and reclaims 4,044, buying momentum could push the price towards 4,060 initially. A sustained break above the descending trendline may extend the recovery towards 4,080, while stronger bullish momentum could open the path to 4,139.
*Bearish Scenario*
Failure to hold 4,025 may trigger fresh selling pressure towards 4,020. A break below this support could expose 3,999, and if bearish momentum accelerates, the next downside target would be around 3,969.
*Key Levels*
Immediate Resistance: 4,040-4,044
Trendline Resistance: 4,065–4,070
Major Resistance: 4,139
Immediate Support: 4,025
Key Support: 3,999
Major Support: 3,969
*Market View:* The overall trend remains bearish while price trades below the descending trendline. The 4,029–4,044 zone is the key decision area. A breakout above resistance could trigger a short-term recovery, while a breakdown below support would likely strengthen the bearish trend and increase the probability of a move towards 3,999 and 3,969.
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