The current market level is 81,300, and after a sharp rise on the daily chart, it has entered the overbought zone, indicating a need for a pullback. Overall, a clear bearish trend has not yet formed; high levels have not seen increased volume, and there are no signs of large-scale capital fleeing. However, the upward momentum is gradually weakening, and we are waiting for the main force to choose the next direction.

The 4-hour chart also shows expectations of a pullback, with the price failing to break through the previous high of 82,800 twice in a row. The hourly chart is in a sideways consolidation state, with the trend line not broken, forming a converging triangle pattern. Key resistance levels are 82,000 and 82,800; support below is at 80,500, based on the trend line.
CPI data will be released tonight at 20:30, and the market is likely to remain volatile, with the trend possibly guided by the evening data. The current short-term trading is relatively difficult and not suitable for blind entry.
For short-term positioning, consider shorting near 82,000 above; if the daily chart begins a pullback and effectively breaks below 80,500, the downward space will further open. The current rally has limited upside potential, and if the market cannot break out of a single-sided rise, it is very likely to consolidate and then retrace after sideways movement.
If 80,500 is broken, the next support is at 79,500. Once 79,500 is breached, a bearish daily structure will be established, leading to a deep decline, with targets around 75,000. Specific short-term entry points will be announced later in real-time.
This morning, a short position was placed at 4,760 on gold at the current price, which has now fallen to 4,690, a drop of 70 points. The first target has been reached, and the second target is at 4,660. Those holding short positions should take profit near 4,660. For those wanting to go long, you can place buy orders around 4,660 with a stop loss of about 20 points.