Surge high with long upper shadow, collective profit-taking at high levels

The intraday low dipped to $4161.30, slowly oscillating up to the intraday high of $4164.62 before a rapid plunge. The day closed with a clear long upper shadow. The four moving averages (5, 10, 20, and 60) all converged around the $4164 line. The price directly broke through support from the short-term moving averages, the bullish momentum fully exhausted, and $4164.62 immediately became a strong short-term resistance. Subsequent rebounds will find it difficult to break through in one go.

2. Low volume on up moves, high volume on down moves, buying power is weak

The volume comparison throughout the day is clear: During the gold price surge, volume continued to shrink—a classic case of a low-volume rally, with no real incremental capital entering to support the price. As the price turned down, volume simultaneously expanded, with high-level profit-taking concentrated selling off, causing market bullish sentiment to cool rapidly.

3. Narrow range oscillation throughout the day, upside space completely locked

The day's high-low fluctuation was only about $3. The price stagnated at high levels, repeatedly testing the overhead pressure without holding, indicating that bulls lack sufficient favorable factors to sustain a unilateral strong rally. Short-term adjustment needs have already accumulated.

Looking purely at the intraday short-term market, Monday's opening itself lacks the foundation for a sustained rally. Without an unexpected major positive catalyst, the opening is likely to trend oscillating and weak. #黄金