$XAU As shown in the picture, it is currently at the 4700 resistance level. If it breaks through, then look at the resistance level around 4750. The yellow line part represents the ideal trend. If it is blocked and falls back, and the second test does not break 4500, then it can be considered a short-term bottom signal. Therefore, bulls should wait for signs of stabilization after the second test. For intraday short-term players, short at the key resistance level above and monitor the strength and weakness during the European session to exit in time. 4500 is the support level for the gold weekly chart, combined with the fact that all negative factors have basically been exhausted. There is no worse market environment than now. I hope for a rebound to help everyone recover losses; the sharper the decline, the stronger the rebound. However, it is not about blindly promoting dead bulls or dead bears. Follow whatever signals the market gives. In extreme cases, if 4500 breaks down, then it’s better not to live.

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