Despite the rebound, continue to short gold.GoldOANDA:XAUUSDDaniel_PrimeFXGold Price Analysis: This morning, a short position was suggested around 4380. The price touched this level multiple times and fell as expected, reaching a low of around 4359 before rebounding. A total profit of 340 pips was gained. However, those who didn't exit the position would have been stopped out by this rebound. Currently, the hourly chart shows a slow, upward trend with consecutive positive candles. The resistance level is around 4380-4400. During the European session, observe the upward momentum. If the price continues to rise and encounters resistance around 4380-4400, then consider shorting again around 4380-4400, anticipating a pullback. Gold Technical Analysis: For today's market, firstly, the 4300 level is near the 20-day moving average, indicating a short-term oversold rebound. However, a bearish engulfing pattern has formed on the daily chart. Looking at the 4-hour chart: firstly, in a weak market, the 38.2% Fibonacci retracement level is the best entry point for shorting, which is around 4397-4400, the 38.2% Fibonacci retracement level of the 4550-4302 range. This also coincides with the 10-day moving average. Secondly, the short-term moving averages MA5 and MA10 have begun to turn downwards. Regarding resistance, the primary focus is on the 4380-4385 area, which is the previous high. The price has already broken below this area, and subsequent rebounds should be monitored to see if this level forms sustained resistance. The overall strategy remains bearish, suggesting looking for opportunities to short on rebounds. The downside target remains around 4310, and a break below 4300 would further target around 4270. In summary, Jin Shengfu suggests a strategy of primarily selling on rallies and secondarily buying on dips for gold trading. The key resistance level to watch in the short term is around 4380-4400, while the key support level is around 4300-4270. Please follow the recommendations carefully.