Let's take another look at the situation with gold.

Recently, due to geopolitical conflicts, the price of gold has started to rise significantly again. This wave of gold rebounded after falling to the 0.5 position, reaching near the second peak of the double M top. From the 4-hour chart, gold has begun to show some signs of decline. Whether it's a true previous high or a secondary high, the M top is an important resistance level, and there will be relatively more bears or short positions.

Currently, gold is facing some resistance here. If it declines again, I believe it may return to the channel and continue to fluctuate between 0.786 and 0.618. However, if this level of resistance is broken, then the resistance levels above also need to be monitored, including near the previous high, where short positions can be considered.