Gold has been fluctuating around the 3900 level during the daytime session, with prices moving within a narrow range near support. Bearish momentum has eased somewhat, but the rebound has been weak, and the overall trend remains bearish.
Volatility may increase during the US session tonight. Avoid blindly chasing shorts at low levels. Focus on whether the 3900 level holds, and consider positioning only after a rebound to the resistance zone.

Key levels
Resistance: 3918, 3940
Support: 3885, 3860

Trade idea
Consider a short if a rebound to 3916–3926 meets resistance. Stop-loss: 3938. Targets: 3895, 3885

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