Gold is at a turning point, Bulls or Bears take control next?GoldOANDA:XAUUSDGoldenBearfx178From the current market structure, after a strong short-term rise and breakthrough of key areas, gold prices failed to continue their upward momentum as expected, giving back most of the gains within just one trading day. This indicates that the current rebound momentum is weak and has not completely reversed the bearish trend; overall, the bears still hold the upper hand. Gold's rebound was followed by a pullback, but the short-term rebound structure has not been completely broken. Supported by this structure, new buying funds may quietly enter the market during the pullback, giving gold bulls a chance to counterattack, and potentially even retest the 4080-4100 area. In the short term, liquidity is concentrated in the 4040-4020 range, with a key support level around 4000. It's worth noting that after achieving a significant breakout, gold bulls failed to maintain their upward momentum, meaning their most favorable opportunity to attack has passed. Furthermore, after almost completely retracing its gains, the market still faces the potential risk of a downward reversal. If gold breaks below the 4040-4020 range, liquidity could translate into accelerated downward pressure, potentially leading to a retest of the 4000 level. Trading Logic: It is still possible to try buying gold before the short-term rebound structure is completely broken. However, it is crucial to recognize that the current short-term rebound does not constitute a new major bullish wave; one must not mistake a technical correction for the start of a significant rally. The current support level is still at risk of being broken. Once the key support below is effectively broken, we should adjust our thinking in time, abandon bullish expectations, and guard against a further deep decline. Trading Strategy: Primary strategy: Entry - Focus on the 4080-4100 range, with a bearish bias. Alternative strategy: Entry - Focus on the 4045-4025 range, with a bullish bias. The above is not investment advice, but for learning and discussion purposes only!