On the four-hour chart, gold continues to fall in a stepwise manner; while the lows keep moving lower, every time it makes a new low, gold also sees another good rebound. Tonight, this rebound before each round accurately hit the 4040 resistance level, then pulled back.

From external factors, today is Monday’s market—without any news-driven influence, volatility probably won’t be particularly large. After gold tested the 4040 pressure level, it clearly lacked follow-through momentum, leading to the pullback. Intraday, gold rose in the Asia session and continued to move up in the Europe session, so in the short term it remains biased bullish but lacks momentum. Overall, I believe the evening is likely to see short-term high-range consolidation and repair.

For tonight, I personally think gold will most likely trade in the 4010—4040 range. In terms of trading, my suggestion is to do sell at the highs and buy at the lows within the range! $XAUUSD