GOLD STARTS JULY WEAK — DOWNTREND REMAINS IN CONTROL

Gold remains under selling pressure as July trading begins. After a brief rebound from last month's low, bullish momentum quickly faded, sending price back toward the 3935–3950 support zone. The H2 structure continues to print lower highs and lower lows, confirming that sellers still control the broader trend.

Technically, price is trading inside a descending channel while testing short-term support. This area may trigger a technical rebound, but any recovery will remain corrective unless Gold reclaims the 3995–4010 resistance zone. A decisive break below current support would expose the next lower liquidity area.

With the higher-timeframe trend still bearish, the preferred strategy remains selling into rallies rather than chasing rebounds. Only a strong breakout above nearby resistance would signal that bullish momentum is returning.

📍 Key Levels

🟦 3935 – 3950
Key short-term support zone.

🟥 3995 – 4010
First resistance and descending channel retest.

🟥 4120 – 4140
Major higher-timeframe resistance.

☑️ Preferred Scenario

✅ Hold above 3935–3950 support.

✅ Recovery extends toward 3995–4010.

❌ A confirmed close below 3935 would favor continuation toward 3880–3900.

📊 Risk Management

• Risk no more than 1–2% per trade.

• Avoid buying against the prevailing bearish trend.

• Prefer selling rallies into resistance.

• Consider long positions only after a confirmed breakout above 3995–4010.