Good morning, guys! Yesterday, gold surged to a high of 4166 and then topped out, followed by a continued pullback. In the evening, selling accelerated and the low finally touched around 4040. This morning, leaning on the 4042 support, we arranged a long position at the current price. The market has since rebounded slightly to around the 4050 area, and the short-term setup is now seeing a corrective bounce.

After the big sell-off, the short-term overall trend is in a weak consolidation phase. This is a rebound amid sideways movement after a decline—don’t treat it as a reversal. The short-term resistance above is 4075, with a key resistance at 4110. Support below is 4040; if it breaks, the market will once again test the lower levels.

In terms of trading: low-level long positions can be gradually aimed toward the 4075 target. If the rebound approaches the resistance zone, you can still consider going short near those levels. The current market is choppy and repetitive—strictly manage position sizing, set your stop-loss, and don’t blindly chase pumps or panic-sell. $XAU ‌