$XAUUSD Experienced a wave of extremely strong unilateral upward movement, reaching the 5,600 level. But after encountering resistance near 5,600, the market entered a clear high-level distribution phase. The highs are no longer making new records, and the lows are continuously being tested. The previous upward trend has been broken, and it is now in a medium-term correction zone. The price is currently in the lower side of the right-side downward channel or a large-scale consolidation zone.

4,550 - 4,500 is the last line of defense for the bulls. It is most prudent to stay in cash and observe at this point.
If it breaks below 4,500, it indicates structural weakening, and I will switch to a completely bearish mindset.
If it can stabilize here, it shows that the overall bull market remains intact, and this is an excellent position for medium- to long-term phased accumulation.