$XAU Rally overbought under pressure, waiting for short opportunities at highs

After gold prices surged to a high of 4055 during the day, they stalled, currently oscillating at 4053. The short-term rebound is nearing its end, maintaining the primary bearish strategy.

U.S. employment data remains resilient, cooling expectations for rate cuts. This rally is only a temporary rebound, and the bearish trend remains unchanged.

The 1-hour Bollinger Bands show upper band 4058.43, middle band 4026.94, lower band 3995.45; the 30-minute Bollinger Bands show upper band 4066.93, middle band 4026.87, lower band 3986.81. Both timeframes' RSI are in overbought territory, limiting upside potential. Strong resistance at 4063-4067, support at 4026 and 3995.

Go short in batches around the 4060-4080 rebound, targeting 4025, 4005, and further down to 3985 if broken. On a pullback, if it stabilizes near 3985, you can take a small long position. Trade with light positions and be sure to use stop losses.

The above analysis is for reference only and does not constitute investment advice. The market carries risks; caution is required when entering.