Christmas Day international spot gold markets are closed, but that doesn't prevent us from reviewing the possible market trends ahead.

Honestly, my short-term outlook on gold leans more towards bearish. Why? Let's start with the daily chart — that 10-character star candlestick is there, and everyone understands that this usually indicates a potential reversal. Looking at the 4-hour chart, signs of top divergence have already appeared, and that's not a small signal.

Yesterday's market was particularly interesting. Gold prices brushed past the top of the upward channel, closing physically at 4479. Although the lower shadow pierced some support levels, it didn't continue downward and ultimately returned to 4479. This is quite significant — if the weekly close is between 4440 and 4460, it suggests that the market might re-enter the channel and then start a downward oscillation.

The key resistance level is at 4500. Can this integer level hold? It's really crucial. If gold gets blocked here, all previous gains could be wasted. In other words, blindly chasing the rally is too irrational.

Although we are still in an upward trend and respecting the trend is correct, don't get carried away and follow the crowd impulsively. For tomorrow's trading, focus on two key ranges: support at 4440-4460 below and resistance at 4500 above. How these levels perform will directly determine the subsequent direction.