Comex gold futures' bearish technical setup lingers, based on the daily chart, RHB Retail Research's Joseph Chai says in a research report. Despite the commodity's latest positive price action, it was rejected by resistance at the 20-day simple moving average, the analyst notes. This signals that selling pressure is returning. With the futures below the 20-day SMA, this might attract fresh selling pressure that could lead to a further fall toward immediate support at $4,000 an ounce, Chai says. Both the 20- and 50-day SMAs also continue to trend lower, providing resistance, the analyst adds. Spot gold is 0.8% lower at $4,132.47 an ounce. (ronnie.harui@wsj.com)