$XAUT Watch for short opportunities. The market is all waiting for a rebound, but I think this rebound could be a trap. The big-picture short logic is still valid: the daily chart is still ranging, and the price is clearly being rejected in the 4019.3 to 4022.28 area. The 15-minute RSI is at 61, and the bears still have room to push further down. Also, the 15-minute trading volume has surged by 4 times—sell orders are truly coming in. You can look for entry around 4019.3 to 4022.28, targeting 4010 and even the 3992 area. But be sure to manage risk when shorting—your stop-loss can be around 4035; don’t go in with too much size.

XAUT0.60%
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