Yesterday, gold faced pressure at higher levels and broke down to retreat. During the Asia-Europe session, it maintained narrow-range consolidation with thin market sentiment. Both bulls and bears remained cautious and observant, with limited short-term fluctuations. During the US session, supported by strong US economic data, the US dollar index and 10-year US Treasury yields surged in sync, suppressing the safe-haven properties of precious metals. Gold prices plunged from the 4590 level on heavy volume, successively breaking through four-hour support levels and round-number resistance, probing as low as 4455, before a modest rebound on late-session buying pressure near the low, ultimately closing at 4478. The daily chart printed a solid bearish candle with concentrated short-side momentum release. The RSI indicator fell into the oversold zone, and the technical picture entered a forced correction phase.

In early trading today, gold prices stabilized and stopped declining at the strong support zone of 4455-4465, where yesterday's correction low and the daily-level Fibonacci 0.618 retracement level converge—a triple confluence zone. Strong demand from low-level buyers resulted in the previous one-sided sharp decline decelerating significantly, with the day's overall rhythm dominated by oversold technical bounce recovery. On the chart, the MACD bear momentum histogram is gradually shrinking, and the KDJ indicator formed a low-level bullish crossover in the oversold zone. Although the moving average system still shows a bearish alignment, the downward slope is moderating, with short-term bounce momentum progressively accumulating. From a medium-term perspective, this rapid decline remains a normal corrective pullback within the broader uptrend. The global central bank gold-buying logic remains unchanged, geopolitical safe-haven sentiment persists, and the dominant bullish structure has not fundamentally altered. This decline is not a trend reversal but rather a consolidation shakeout within the bullish trend. If the daily close can hold above the 4520 key resistance level, the weekly uptrend structure will remain intact, and next week gold is likely to break free from weak consolidation and resume wave-level bounce, retesting the previous high-pressure zone.



Critical support concentrates in the 4455-4464 zone, representing a triple confluence of yesterday's low, today's double-bottom pattern, and Fibonacci support—also the core defensive line for bulls today. Breaking below this zone will probe further support at 4420 secondary level. Short-term secondary support around 4480-4490 serves as the core consolidation zone and an ideal entry area for short-term longs. Near-term resistance sits at 4520-4548, representing the four-hour bull-bear watershed and first rebound resistance. Breaking through opens upside space. Upper strong resistance is around 4580-4600, the previous high consolidation platform and a key level for gold to return to the uptrend.



Operationally, maintain medium-term bullish bias with short-term bounce recovery as the core idea, focusing on pullback-stabilized longs while strictly avoiding blind short-chasing. With Friday approaching the weekend, market positioning adjustments occur frequently, combined with technical recovery, gold volatility will likely expand. Strict position sizing control and synchronized stop-loss placement are essential to guard against sudden risks. Consider scaling into long positions in the 4465-4490 zone with unified stops below 4450. Short-term targets first at 4520-4548; breaking above this resistance can maintain longs toward 4580+. If gold rebounds to 4548-4560 and faces resistance pullback with insufficient volume follow-through, light short-selling to trade range consolidation is possible, strictly adhering to quick entry, quick exit principles without holding positions. #贵金属领涨
#加密市场回涨