Gold’s sharp drop tonight shows that the bears have completely broken the market down! Around 3965 this afternoon, some buyers stepped in to resist, and the price was briefly pushed back above 3990. Unfortunately, that rebound changed nothing. Selling surged again in the evening, 3965 gave way, and gold plunged to around 3928. It fell more than 60 points in just a few hours. This is no ordinary pullback amid consolidation, but an accelerated decline following a series of breakdowns.
Take a close look at this decline: after the 4000 level gave way, gold barely staged any meaningful rebound. It posted consecutive bearish one-hour candles, each rebound grew shorter, and on the 15-minute chart, prices kept trending lower. Even the small bounces along the way were quickly swallowed by selling. This price action suggests that funds are actively moving out, with very clear pressure from the bears. However, one thing must be kept in mind: gold has already plunged sharply in succession and is severely oversold in the short term. Chasing the decline around 3928 could leave you vulnerable to being stopped out by a sudden rebound. I remain bearish tonight, but entry levels matter. The 3945–3955 zone, which was broken earlier, has now turned into short-term resistance. If prices rebound to this area, the bears will have a better chance to regroup and launch another move. First watch 3920 below; if that level gives way, there is room for a further drop toward 3900.
Short gold at 3945–3952; first target 3920, then 3900; stop-loss 3963. $XAUT
$XAU
$BTC
#加密杠杆头寸24小时清算15亿美元
Take a close look at this decline: after the 4000 level gave way, gold barely staged any meaningful rebound. It posted consecutive bearish one-hour candles, each rebound grew shorter, and on the 15-minute chart, prices kept trending lower. Even the small bounces along the way were quickly swallowed by selling. This price action suggests that funds are actively moving out, with very clear pressure from the bears. However, one thing must be kept in mind: gold has already plunged sharply in succession and is severely oversold in the short term. Chasing the decline around 3928 could leave you vulnerable to being stopped out by a sudden rebound. I remain bearish tonight, but entry levels matter. The 3945–3955 zone, which was broken earlier, has now turned into short-term resistance. If prices rebound to this area, the bears will have a better chance to regroup and launch another move. First watch 3920 below; if that level gives way, there is room for a further drop toward 3900.
Short gold at 3945–3952; first target 3920, then 3900; stop-loss 3963. $XAUT
$XAU
$BTC
#加密杠杆头寸24小时清算15亿美元
