Gold Slips Back Into Range – 4H Downtrend in Play Despite Reject

Gold has broken back inside the higher time frame range, with price stalling on the monthly chart — a clear sign of indecision. On the 4-hour chart, a clean downtrend is forming and appears likely to hold. Despite visible rejection wicks suggesting temporary buying pressure, the broader structure hints at a potential retest of the broken trend line or even a fakeout to trap early buyers. If the trend remains intact, we could see price rotate lower toward the bottom of the range.