Deep V rebound faces resistance at high levels! The 4790 critical support holds, aiming for 4830!

Yesterday's gold price surged to 4855 at the end of the session but encountered resistance and pulled back. Today, during the Asian session, it fluctuated downward, touching the key support at 4790 before rebounding. Currently trading around 4803. Overall, it shows a wide-range fluctuation pattern of "rising sharply, pulling back, testing the bottom, and rebounding," with bulls and bears in fierce competition. The 4790 level is an important short-term defense line for the bulls.

Technical signals remain predominantly bearish: the TRIX trend indicator has turned downward from a high level, the MACD fast and slow lines have a dead cross and diverge above the zero line, and the green momentum bars continue to increase. The bearish momentum has not fully dissipated, limiting the rebound space. However, the 4790 support is effective, and there is a short-term need for technical correction.

Specific trading suggestions: Pay attention to the resistance at the 4820-4835 and 4850-4870 zones. If these levels are not broken, consider trying a short position at high levels. Look for further declines to 4785, 4745, and 4700 if broken.