On the technical front, the weekly chart shows consecutive large bearish candles, breaking below the key support levels of 4200 and 4100. The moving averages are arranged in a bearish alignment, with the MACD green bars expanding, indicating a clear downtrend. The next strong support zone is seen in the 3915-3885 range.

On the daily chart, the gold price continues to decline along the 5-day moving average, having broken below both the 20-day and 50-day moving averages. The Bollinger Bands are opening downward, and the RSI has fallen near 25, entering oversold territory. While there is a potential for a rebound, its scope is limited, with resistance overhead near 4100 and 4220.

On the 4-hour chart, the bearish momentum is consistent, with price action suppressed by short-term moving averages. The RSI is approaching 20, signaling clear oversold conditions. A short-term technical correction is possible, but any rebound is likely to be a trap and unlikely to alter the primary bearish trend.

On the 1-hour chart, a minor corrective bounce is occurring within a bearish moving average alignment. The rebound appears weak. The key focus is whether the price can stabilize above the 4100 level. A successful hold could target resistance at 4180-4200, while failure would likely lead to a continuation of the downtrend.

Trading Recommendations

For short-term trading: Consider initiating a light short position if the price rebounds to the 4110-4120 area, with a stop-loss above 4130, targeting 4085-4070. Alternatively, if the price holds above 4080 without breaking lower, a light long position could be considered with a stop-loss at 4065, targeting 4020-4035.