# 4.24 Bole Golden Week Thursday Retreats and Weakens, Do Bears Continue to Gain Momentum on Friday?

On Thursday, gold faced resistance when rallying, touching 4756 in the early session before pulling back under pressure, and continued to decline into the close, dropping to a low of 4663, closing below 4700, turning the daily chart bearish, and directly interrupting the rebound rhythm.

The market rhythm was precisely grasped yesterday, with a short position arranged at 4740, smoothly capturing 60 points of profit, and profitably closing with a reasonable risk-reward ratio.

Fundamental aspects: Middle Eastern risk aversion sentiment is gradually fading, with limited geopolitical support; U.S. economic data performed strongly, with rate cut expectations cooling down, and the dollar and U.S. bonds strengthening simultaneously, with multiple bearish factors continuously pressuring gold prices.

Based on today's real-time market trend, the weak continuation persists, and the short-term rebound strength is insufficient.
Technically, the bearish structure is complete, with short-term resistance at 4725-4730, and key support at around 4660.

Clear trading idea: mainly look for short positions on rebounds under pressure.
Gold: short at 4725-4730, stop at 4745, targets at 4660 and 4630.

Warm reminder: personal trading ideas are shared for reference only and do not constitute any investment advice.