Spot gold technical analysis: Resistance at $4101 remains unbroken, possible pullback to the $4021-$4036 range

1. Spot gold, after failing to effectively break through the $4,101 resistance level, may retreat in the short term to the $4,021–$4,036 per ounce range. This resistance is confirmed as the 61.8% Fibonacci retracement of the decline from $4,166, serving as a key reference to measure the strength of the rebound from $3,996.2. If the gold price can break above $4,101, the rebound may further extend to $4,166. However, the current failure to breach this level indicates that the downtrend that started from $4,166 may still continue.3. From the daily chart, technical signals remain neutral overall, with gold prices staying confined within a narrow consolidation range between $3,965 and $4,172. The wedge pattern tends to be viewed as a bearish continuation structure, as if market sentiment were optimistic, the price should have already broken above the descending channel resistance.4. The previous trading day's rebound may have been the bulls’ final push above the key support at $3,965, but technically, there is still no clear signal of a directional breakout.