1. Yesterday’s Market Recap

- Driven by weekend news, gold opened lower and continued the downtrend seen in the Asian session. After a rebound in the European session, it pushed further down again.
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- It broke 4070 and 4040 key support levels in sequence, with the low probing around 3980, consistent with the earlier expectation that after the breakdown of 4020, it would look below 3980.
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- Overall, it showed a slow, steady downward move. It closed around 4000 in the early morning, and the weak market condition remains unchanged.
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- The price action formed a one-way down channel: higher highs moving down (4140→4120→4080) and lower lows breaking (4070→4040→3980).

2. Today’s Outlook and Key Levels

- Overall trend: During the daytime, weak downward movement remains the main theme. After any rebound approaches key resistance, it will most likely continue to fall.
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- Support/Resistance Role Reversal:
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- 4070 and 4040 have turned from prior supports into current resistance; if price rebounds into this zone, shorting can be considered.
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- 4080 and 4070 are today’s key long/short dividing points. Unless price breaks and holds above them effectively, maintain a bearish outlook.
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- Downside targets: After 3980 breaks, look further to 3960, and even below 3950.
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- Trend reversal signals: Only an effective break and hold above the 4170–4180 zone would mark the end of this round of selling and the start of a rebound.

3. Important Event Reminder

- CPI data will be released tonight. The forecast is 3.8, versus the prior 4.2. Inflation expectations have declined. A detailed interpretation will be updated in the evening video.

4. Risk Warning

- The above is only my personal view and does not constitute any trading advice. Investing involves risk—proceed with caution when entering the market.
$XAUUSD ‌#沃什听证会撞上CPI