XAUUSD: The decline is far from over; 5000 is the new targetGOLD (US$/OZ)TVC:GOLDGood_Fortune_GoldGold prices continued to fall today. After breaking below the 5100 support level, I suggested shorting in the 5100-5090 range. Gold prices subsequently continued to decline, reaching the target of 5070, less than $1 away from the 5050 target. Judging from the market trend, the decline in gold prices gradually stabilized after touching around 5050, accompanied by signs of a rebound. However, considering that the Strait of Hormuz remains closed, US Treasury yields are rising, and energy prices continue to rise, safe-haven funds will continue to disperse, and gold will inevitably fall further due to the withdrawal of bullish funds. Therefore, the rebound in gold prices will certainly not last long. The 5100-5120 resistance level will become a difficult area to break through. If a valid breakout cannot be formed, a double top (M-top) will continue to form, and a retest of the 5000 psychological level will be inevitable. In terms of trading, we can focus on the 5100-5120 resistance area. If the above view holds true, we can continue to short gold. (XAUUSD)5100-5120@Sell TP1: 5070 TP2: 5050 TP3: 5000