After the sharp decline, a strong rebound has emerged, with the 4440 critical support level remaining firm. The bulls are gathering strength for a counterattack, aiming directly at the key resistance at 4530!

Last Friday during the late session, gold surged to 4555 but faced strong resistance and pulled back. Today during the Asian session, the market initially weakened and retraced, dropping to the key support at 4420 before quickly bottoming out and rebounding. Currently, gold prices are holding steady around 4470. The entire market has been oscillating with a pattern of "rising to meet resistance → bottoming out and rebounding." The battle between bulls and bears is becoming more intense. The 4420-4440 zone has already become the last line of defense for the short-term bulls. If this level is lost, the bears will once again dominate the market.

From a technical perspective, the previous bearish trend has not been completely eliminated. The TRIX trend indicator still shows a death cross, and the MACD fast and slow lines are diverging downward above the zero line, with the green bearish momentum bars continuing to expand. The bearish momentum has not yet fully cleared, which means this rebound is unlikely to be a quick, decisive move. There is clear resistance above. However, the 4440 support level has been tested multiple times and confirmed effective. The RSI indicator has turned upward from oversold territory, and the KDJ indicator has formed a bullish crossover at low levels. The four-hour chart shows a divergence bottom pattern, indicating that a short-term technical correction is underway. Gold prices are expected to move higher in a oscillating manner to complete the correction.

The key trading levels are clear: 4440-4450 is the critical support line for bulls, and 4460-4470 is the intraday short-term stabilization support. The first resistance for an intraday rebound is at 4525-4545, while the previous high zone at 4565-4600 is the dividing line between bullish and bearish trends. Breaking through or failing to do so will directly determine the subsequent market direction.

Practical trading strategy: Conservative traders should prioritize shorting on rebounds near the highs. When gold reaches the 4525-4545 zone and the 4565-4585 area, consider entering short positions in batches, with strict stop-loss above 4625. Initial targets are set at 4480-4460. If broken, look further down to the 4440 critical support. If gold retraces to 4440-4450 support without breaking it, consider small long positions to catch the rebound, with stops below 4420. Targets are 4490-4500. Given the frequent market rebalancing on Friday, position sizes should be carefully controlled. Short-term trading should be quick in and out—avoid holding onto positions for too long.