Sharp rebound after a sharp decline! The 4700 key level remains firmly supported, with the bulls aggressively pushing higher, aiming at the 4780-4800 resistance zone! In this morning's trading, gold opened lower and dipped to around 4660 before quickly stabilizing and rebounding, with increased volume breaking through short-term moving average resistance, reaching as high as around 4770, currently trading at 4762 in the high zone. Overall, the market shows a "bottoming out and rebounding, trending strongly" pattern, with bullish forces dominating the scene, and the battle between bulls and bears clearly favoring the bulls.

Technical bullish signals continue to dominate: the daily TRIX trend indicator maintains a golden cross and diverges upward, the MACD fast and slow lines are above the zero line with a golden cross and continue to move upward, with red momentum bars steadily increasing, indicating sustained bullish momentum and an opening space for a rebound. The four-hour moving average system forms a bullish arrangement, with prices steadily climbing supported by MA5 and MA10, and the upper channel resistance turning into dynamic resistance, making the market structure stable. In the short term, the 4700 level has shifted from resistance to strong support, with a low probability of technical pullbacks, and the bullish trend is likely to continue.

Steady positioning: go long on pullbacks to the 4745-4725 and 4705-4680 zones, targeting 4780–4800; aggressive traders can hold current longs, watch for a breakout above 4770, and if it breaks strongly, target above 4820.