Gold is trading near $4,133 on the 4-hour chart. Currently price remains pinned close to the $4,112 support area after a failed recovery above $4,160. The broader structure is bearish as the price of gold is still under both of the moving averages and the descending trendline. The recent bounces in gold are also still producing lower highs.
The first area of support that I am watching is $4,112. A breakdown through $4,112 would bring about $4,073 and $4,030 in to play. Looking to the upside, $4,160 and $4,190 offer some resistance. Further resistance comes in at $4,214 and $4,238.