$XAU At first glance, it looks like a rebound might be coming, but it could just be a long squeeze trap—I’m looking to keep shorting.



The large-scale bearish structure is still intact. The daily chart remains skewed bearish, and the price is clearly getting rejected in the resistance zone at 4049 to 4052. Now look at the 15-minute level: the RSI has already reached a high of 73, giving the bears room to push price downward. Also, the short-term trading volume has surged by 4x—real sell orders have already stepped in.

You can watch for entry around 4049 to 4052, and look down to around 4038 and even 4017. Place the defensive level above 4067. High-leverage contract volatility is high—everyone, control risk and don’t chase too aggressively.
XAU1.66%
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