Gold prices fell, and a further decline is expected today.GoldOANDA:XAUUSDJohn-FeltDear Trader： Yesterday, gold gapped up at the open, rebounded to a double top at 4580, and then retreated. Aside from the Asian session, the price movement was relatively small throughout the day. After a prolonged period of sideways trading, gold retreated sharply again today as market news was digested. We can see on the daily chart that gold has shown consecutive bearish candles followed by a single bullish candle, indicating that the overall trend remains weak. Gold is still in a bearish, weak market. In observing this weak downward trend, we need to pay attention to the 0.382 level. The 0.382 Fibonacci retracement level from the high to the low of 4580-4523 is around 4540. The previous support/resistance level and the large bearish candle are located around 4551. These are the key levels to watch for today's continuation of the downtrend, but several points need to be noted: 1. In a weak downward trend, the rebound should not exceed the 0.618 level. 2. The earlier the decline begins, the weaker the trend, especially during the European session. 3. The daily chart shows a weak trend. If it breaks below 4523, avoid going long on gold for now, as this is the level for a rebound after the decline. Go short on any rebound. 4. Support is at 4490. A break below this level will likely lead to further declines. 5. Today's strategy is to sell on any pullback, expecting gold to continue its retracement. Trading Signals: SELL: 4545-4555 TP1: 4540 TP2: 4535 TP3: 4525 SL: 4570