$XAU is still capped under resistance — I’m fading the bounce.

SHORT Gold (XAU)

Entry: $4,700–$4,735

Stoploss: $4,800

Targets: $4,690-$4,645-$4,580

Price is trending lower with consistent lower highs inside a descending channel. Rejections near intraday resistance show sellers in control. Momentum remains weak with MACD negative, and rallies lack follow-through. Liquidity sits below, and with bearish positioning building, breakdown continuation toward deeper support is the higher probability.

XAUUSDT

Perp

4,600.75

-0.79%