$XAU USD (4H) remains structurally weak after the sharp selloff from the swing high. Price rebounded from the 4,850 demand zone but the recovery stalled beneath descending resistance near 5,000, forming a tight consolidation range. This looks more like distribution than reversal.
As long as gold trades below 5,000 and the falling trendline, rallies are likely corrective. A rejection here could send price back toward 4,850, with a break below opening deeper downside. Only a strong close above resistance shifts bias bullish.
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