Technical Analysis: Spot gold may retest the 4041 resistance level

1. After failing to effectively break through the $4,084 resistance level, spot gold may retrace to the narrow support zone between $4,025 and $4,041 per ounce. 2. This failed breakout suggests that the rebound from the recent low has already been completed. 3. From channel technical indicators, the risk of further downward movement still exists. 4. The upper resistance remains at $4,084. If the gold price can effectively break through this level, it may open up further upward space, targeting the $4,128 to $4,142 range.