When gold (XAU) starts rising, it doesn’t look back, and when it pulls back, it’s a smooth drop. Oil prices holding strong + rate hike expectations are causing the decline. Today, it found support near 4290. Highs and lows are gradually decreasing, and it’s currently in a continuous downtrend. On the 4-hour chart and above, there are no signs of a reversal yet. Daily chart shows a solid bottom structure from earlier, followed by a wave of upward movement. The current key support range is 4260-4229. Resistance above: 4422-4468. For those going long on the left side: Try entering below 4260, aim for a gold long position, and set a stop loss at 4200. For those on the right side: Wait for a 15-minute higher low before entering. For trend-following shorts: Wait to short above 4422. Also, gold’s movement is a preview of what’s to come for $BTC. Gold breaks out and rebounds first, then Bitcoin surges to follow. Now that gold’s rebound is over, watch out for Bitcoin and Ethereum dumping hard later!