This morning, XAU tested the previous high and then fell under pressure, running along a downward channel throughout. The interval predictions given in advance earlier were all realized, with precise control of the day's high and low points, and the market movement highly aligned with expectations.

In the evening, the ADP employment data and EIA inventory data will be released successively. These two core data will directly affect the dollar trend, becoming the key trigger for gold to break through the current range. In operation, focus on the breakout direction under the influence of the data, and follow the trend.

Currently, the BOLL channel on the chart is opening downward as a whole, with bearish momentum still dominating. The upper rail of 3980 forms short-term strong resistance, and the middle rail around 3975 is the current bull-bear dividing line, with a clear short-term weak pattern.

Go short in the rebound range of 3980-4000, targeting 3960 and 3940.
$XAU