Gold prices face a sell-off; the decline continues.GoldOANDA:XAUUSDActuaryJ Currently, long-term capital continues to flow out of the market, and gold is showing weakness on a quarterly basis; institutional selling pressure emerges during rebound phases, capping gains. Today, US CPI data for June will be released, and Federal Reserve Chair Warsh is scheduled to testify before the House Financial Services Committee regarding the "Federal Reserve Semiannual Monetary Policy Report." Market volatility is expected to be intense; please be mindful of trading risks. Technical Analysis: Gold closed sharply lower on the daily chart, falling below the 10-day moving average (MA10) and breaking the 4000 mark. The MA10 and 7-day moving averages have formed a bearish cross and are diverging downwards, with the price tracking between the middle and lower Bollinger Bands. On the short-term 4-hour and 1-hour charts, moving averages have formed bearish crosses and are diverging downwards; the price is moving within a descending channel, and the Bollinger Bands are opening downwards. The strategy for today is to prioritize selling at highs, with buying at lows as a secondary option. Resistance levels: 4020/4033/4048/4060; Support levels: 3976/3960/3943/3925. My recommendations: BUY: 3910–3920, SL: 3890, TP: 4000–4030; SELL: 4040–4050, SL: 4070, TP: 3950–3920;