Monday's short-term trend continued its downward trend. We can consider shorting again when the price rebounds and encounters resistance. The key resistance level to watch is around 4080-4090. The first support level to watch is the 4000 level, and the stronger support level is the 3950 level.Tomorrow, Tuesday, the CPI will be the key turning point this week. If inflation is higher than expected, gold prices will likely continue to test the support level of 3950. However, once inflation cools down significantly, the bulls are expected to rebound and retest the 4120 level.Currently, gold is experiencing a weak and volatile market dominated by negative interest rate factors and escalating geopolitical tensions. It is unlikely that the bulls will be able to completely reverse the trend in the short term. Therefore, the direction of the trend will need to be confirmed after the release of US inflation data this week.

Do not chase the downside; wait for a rebound that fails to break through resistance before shorting.

In terms of trends: Gold is more likely to fall than rise, the downward trend remains unchanged, and the price is well below the 200-day moving average, indicating that short-term bearish forces are in control.