Guys, good morning! Yesterday’s market was a textbook deep V roller coaster: during the daytime it got hammered all the way down to the 3,983 low, basically flushing out the longs. Then in the evening, the CPI data came in slightly bullish; the market felt the Fed rate-cut expectations were back. Gold then surged aggressively, climbing straight to around 4,100 in one go. The daily up-and-down swing exceeded 120 points—both sides that chase and those that cut losses are easy to get swept.

Now the rally has faded and it’s stalling back around 4,055, oscillating there—this is consolidation and digestion after the big move. The strong resistance overhead is 4,080; only a breakout can keep the rebound going. On the downside, the first support to watch is the 4,020 to 4,000 zone. As long as it holds and the rebound rhythm remains intact, things are still in play; if it breaks, it could slip back into weak downward action.

For trading: short on the rebound at 4,060 to 4,070, with targets at 4,020 to 4,000. For the pullback, go long at 4,030 to 4,015, targeting 4,060 and 4,080.
$XAU ‌