Enzel: Gold bearish trend established, looking to short 4335 next week

**Technical Analysis:**

From a technical perspective, gold pulled back after surging on Friday, continuing the downtrend with Asia-Pacific session highs followed by European weakness. After breaking below 4640 during US session, it declined sharply. Both daily and weekly charts closed with large bearish candles, and the short-term uptrend structure has been broken.

**Wave Analysis:**

The first wave of decline initiated on January 29, with a second adjustment wave starting after the secondary high on March 2, showing stronger downward momentum. With weak Friday close, early next week is likely to see continued decline. Short-term trading focuses on shorting with the trend; avoid buying the dip until a clear bottom is established. Watch the 4400 support level below—technical rebounds may occur here, but breaking through is only a matter of time.

**Daily Resistance and Support:**

Short-term resistance: 4635-4640; Key resistance: 4750-4760, 4800-4805; Support first at 4398-4400, then 4335-4340. Trade on bounces with shorts as primary strategy—real-time levels will be provided during market hours.

**Gold Trading Strategy:**

Short in batches on rallies to 4630-4640, add shorts at 4750-4760, unified stop loss at 4780, targeting 4335-4350.

**Disclaimer:**

The above analysis is Enzel's personal analysis for reference only and does not constitute any investment advice!
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