Taking profits and awaiting PCE inflation data!GoldOANDA:XAUUSDmr53eem Gold has been fluctuating within a tight range at the lows today. After failing to break higher on multiple attempts, short positions were entered in the 3998–4000 range; the trade is currently showing a small profit near 3983. The focus today is on the PCE inflation data: if the figures are mild, expectations for interest rate hikes may temporarily ease; conversely, if the data is strong, gold will remain under pressure. There are no significant changes from a technical perspective. The daily chart shows a downward breakout, signaling a bearish trend. Although the 4-hour chart shows price stabilization around the 3960 level, the conditions required for a reversal have not been met. Therefore, the outlook remains bearish; the prudent strategy is to short on rallies against resistance levels. Resistance lies at 4020 and 4060, while support is at 3960. A break below 3960 opens the way to 3900, beyond which lies a high-risk zone for bears—avoid blindly chasing the downside. If gold rises, look to short near the 4018–4024 range, targeting 4000, 3965, and 3930. Shorting is also an option if the price rebounds to the 4050–4060 resistance zone.