The gold market opened with a rally in the morning session, with prices oscillating and rising from the 4378.98 level. After reaching a high of 4617.68, it quickly faced resistance and pulled back, still unable to establish a firm footing above 4600!

From the current market structure, after an early surge and a long upper shadow, the trend shifted to a sideways decline, gradually giving back previous gains. On the hourly chart, after the price surged, it attempted to test the 4600 level twice but failed to hold above it. Resistance levels above are now clearly defined, and overall volatility continues to narrow, with bears consolidating at high levels.
On the four-hour chart, the larger cycle remains in a sideways to bearish structure without a breakout. Therefore, our subsequent strategy remains bearish, looking for opportunities to go short at high levels.

Gold is expected to short around 4580-4610 on rebounds, with a target of 4500-4450#加密市场普遍上涨 $XAU