Bulls are going crazy! Gold bottomed at 3960 and then surged 150 points, staging a dramatic squeeze reversal late at night.

Today, $XAU saw an extreme deep V-shaped movement: In the early session, it oscillated downward under pressure, stabilized after testing the 3960 level, and then remained in a narrow sideways range at the lows for a long time, with bulls and bears locked in a stalemate. In the evening, it surged all the way to a high of 4115, gaining over 150 points in the move.

Heightened geopolitical tensions have driven safe-haven buying into the gold market; combined with the short-term weakening of the U.S. Dollar Index, this double positive catalyst has pushed gold prices sharply higher.

On the 15-minute timeframe, price has strongly broken above the previous consolidation range, and the moving average system has simultaneously turned upward to form a bullish alignment, confirming a short-term bullish market structure. However, after the rapid rally, technical indicators have entered overbought territory, and the upper Bollinger Band is exerting clear resistance, suggesting a need for a short-term pullback correction.

Place short positions in the 4100-4120 rebound range, targeting 4080 and 4040.