$XAUUSD Gold traded weakly during yesterday's Asian session with a sideways decline, accelerating lower in the evening session to break below support, and ending the day under pressure around the 4503 level. The overall trend is bearish, which is beyond doubt. After a brief rally and subsequent retreat in the early session, today’s focus should be on whether a breakdown will occur. The Relative Strength Index (RSI) indicates bearish momentum, pointing downward, which suggests sellers will further push down the gold price. If the gold price falls below $4450 per ounce, there is a chance to test the 200-day moving average at $4411 per ounce.

In the one-hour chart, watch for resistance around 4503-4506 in the early session, and key support at 4450. Currently, focus on small-range fluctuations. If opportunities arise, you can directly enter short positions to bet on continued decline. Overall, a bearish stance is recommended!

Gold: Short around 4506 on a rebound, with a stop at 21, targeting 4460-50! If 4450 holds, consider shorting again.

Last week, after the U.S. violated the ceasefire agreement and bombed Iran, Israel recently violated the ceasefire again and bombed Lebanon. In response, Iran’s negotiating team decided to suspend talks and text exchanges with the U.S. mediated by third parties. They stated that the U.S. bears direct responsibility for violating the Iran ceasefire agreement, and Israel’s violations in Lebanon should also be attributed to the U.S. responsibility.
The U.S. has not responded yet, but Trump stated that he doesn’t care about stopping negotiations and is not worried about rising oil prices, as he believes oil prices will soon fall.
The volatile geopolitical situation continues to sway market sentiment, with gold steadily retracing yesterday and crude oil rebounding strongly, consistent with personal expectations. The impact of geopolitical tensions will not fade soon; their volatility will continue to drive market turbulence, so caution is advised for potential reversals.

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