Regarding the gold price movement over the past two days, I initially expected it to continue consolidating, but unexpectedly there was a major shakeout yesterday—the U.S. session saw a spike and then a sharp decline. This morning, the decline continued, with hourly candles forming consecutive bearish bars, directly breaking below a key support level. Since the daily trend remains bearish, which we have always emphasized, even if the daily candle closes positive, we view it as a consolidation correction before further decline. Take a look at the recent price action—isn’t that how it has been? In a bearish market, do not view bullish candles as support. So for today, the approach is straightforward: continue to favor shorts. The resistance level is 3988-89, which is the 0.382 retracement of today’s 4018-3970 rally. Another level is the 0.618 retracement at 3999-4000, which also coincides with the top of the hourly bearish candle. In a bearish market, the 0.618 level can also be used for short entries, with a target of 3930-3900. If the European session breaks below the low, continue to short around the U.S. session. In short, as long as the low is broken, any rebound is a short opportunity.