Bears Completely Run Wild! Gold Plunges Nearly 60 Points Intraday, Downside Still Expanding

Intraday spot gold staged a smooth, one-way selloff on the 10-minute timeframe. After surging to the 4140 intraday high in the morning, it ran into pressure and turned; throughout midday, it continued to maintain a sluggish, drifting weakness. In the afternoon, shorts concentrated and released heavy sell pressure, the price accelerated into a sharp drop, the intraday decline kept widening, and the current board is fully dominated by shorts. $XAU

On the 10-minute cycle, price stayed moving lower along the BOLL lower band throughout. All short-term moving averages have formed a bearish alignment, and the suppressing effect is significant. The MACD green momentum histogram continues to expand, and bearish momentum remains sufficient.

Short at 4080-4100, targets 4060 and 4040
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