Intraday $XAUT saw an extreme long-short battle, forming a standard bottom-finding and rebound pattern. The decline only stopped after testing the 3960 level. Just as bearish sentiment intensified, concentrated buying at low levels stepped in to support, pushing gold prices to gradually rebound. The intraday decline quickly narrowed, completing a short-term V-shaped recovery.

The 10-minute cycle technicals show that the 3960 support level is highly resilient, successfully withstanding the current wave of bearish selling pressure. After completing an oversold rebound from the low, short-term moving averages have turned upward. With the BOLL lower band absorbing the decline, gold prices are continuously moving toward the middle band, and bullish momentum has significantly recovered.


Set up short positions in the 4030-4050 range, targeting 4000 and 3980.