The overall outlook for gold remains bearish.GoldOANDA:XAUUSDKallie_GoldThe overall outlook for gold remains bearish. Gold prices continued their decline, falling for the fourth consecutive week with a cumulative drop of 1.79%. Early this week, gold prices experienced a sharp sell-off, briefly falling below the $4,000 mark to a low of $3,959 per ounce, a new low in over seven months. Following the release of the US May core PCE data on Thursday, which showed inflation in line with expectations, the dollar retreated from its highs, and gold prices gradually stabilized. On Friday, bullish sentiment in the market surged, and gold prices rebounded by more than 1% in a single day, closing near $4,081-$4,088. Current market characteristics: Oversold rebound, not a trend reversal. Friday's rebound is a technical correction. $4,350-$4,400 remains a key reversal signal level. Until a valid break above this level is achieved, gold prices will continue their downward trend in the longer term. Currently, gold prices remain below the 200-day moving average, and the weekly bearish pattern remains unchanged. Monday Market Forecast and Key Price Levels: Based on Friday's high closing price, gold may continue to test higher levels on Monday, but attention should be paid to changes in momentum: Currently in a rebound phase, entry points should be based on support levels, and exit points on resistance levels, the opposite of the strategy in a downtrend. Key support is in the $4050-$4030 range, an area that previously acted as resistance. A pullback to this area will provide a short-term buying opportunity. The defense level is at $3980. A break below this level will end the short-term rebound. The first resistance level is at $4100 (Friday's high). A successful break above this level could lead to further gains towards the $4140-$4150 area. If strong resistance is encountered in the $4100-$4150 area, shorting opportunities exist. Core Logic: Increased divergence between bulls and bears My View: Friday's rebound was more like a breather after the sharp drop than a reversal signal. On Monday, closely monitor whether the $4100 level is broken—if it fails to hold, the rebound is over; if it holds, the target is $4140-$4150. Regarding trading strategy, consider establishing a small long position near $4050-$4060, with a stop-loss below $4030 and a target price of $4100-$4140. If strong resistance is encountered in the $4100-$4105 area, consider establishing a small short position, with a stop-loss above $4120 and a target price of $4070-$4050. The overall trend remains bearish. The short-term rebound merely provides better entry points.