Gold is currently under sustained downward pressure and is still undergoing repeated choppy fluctuations at low levels. Market sentiment is entirely dominated by the Federal Reserve’s interest rate decision in the early hours of this morning.

The bearish trend in this round of decline is clear. The current low-level range is only a brief consolidation during the sell-off. Resistance overhead is extremely strong, and the overall bearish major trend has not changed. No matter what signals the decision releases, as long as there is no upside-forecast-beating dovish shift, gold’s rebound momentum is severely lacking. Hitting resistance and failing is an excellent opportunity to short.

## Trading advice
Short on the rebound into the 4580-4600 range. First target is 4550; if it breaks through, then look for 4520-4480$XAUT