Early morning gold moved upward with a rally rhythm, with prices oscillating and rising from the 4378.98 level, reaching a high of 4617.68 before quickly facing resistance and falling back. The price above 4600 still has not established a solid footing!

From the current chart structure, after an early surge and a long upper shadow, the market turned into a sideways downward correction, gradually giving back previous gains. On the hourly chart, after a rise, the price tested the 4600 level twice but failed to hold firmly. Resistance above is now clearly defined, and the overall volatility continues to narrow, with bears consolidating at high levels.
On the four-hour major cycle, the structure remains oscillating and slightly bearish without a breakdown. Therefore, our subsequent strategy remains bearish, looking for opportunities to go short at higher levels.

Gold rebounds around 4580-4610 to short, targeting 4500-4450#加密市场普遍上涨 $XAU