shortrallies

$XAU – Daily Update 🟡
After a parabolic rally, gold faced a sharp pullback.
Price dropped 6.6%, signaling the start of distribution.
EMA(7) lost, but still above EMA(25), indicating trend weakening.
Momentum:
RSI is turning down.
Heavy red volume shows profit-taking.
Key Levels:
Resistance: 5,200–5,300
Support: 5,000 → 4,850
Downside risk: 4,500
Bias / Strategy:
Avoid longs at this level.
Look to short rallies or trade the range.
Bullish only if price recaptures 5,200+.
Summary: Easy upward move is over; expect volatility and distribution phase now.
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