Unless the gold price decisively breaks above $4,650, the trend remains downward with further decline.



If the gold price breaks below the resistance level and resumes falling, the take-profit target can be set between 4,640 and 4,560.

If selling pressure intensifies, the take-profit target may further decline to $4,500.

Place the stop-loss between 4,650 and 4,670, as a break below this area would invalidate the bearish pattern and could trigger a short squeeze.
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