Bear market completely goes wild! Gold drops nearly 60 points within the day, with room for further downside still widening

Spot gold within the day showed a smooth one-way downtrend on the 10-minute timeframe. After a morning push to the 4140 intraday high, price met resistance and turned over; during the afternoon it continued to hover in a sluggish, weakening decline. In the latter part of the day, shorts concentrated and released selling pressure, accelerating the plunge. The intraday decline kept expanding, and the current market is completely dominated by the bears. $XAU

On the 10-minute cycle, price stayed along the BOLL lower band throughout, moving lower. All short-term moving averages have formed a bearish alignment, with a clear suppressing effect. The MACD green momentum histogram continues to expand, and bearish momentum remains more than sufficient.

Short around 4080-4100, targets 4060 and 4040
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