As long as the gold price continues to trade below the intraday opening price, short-term rebounds are likely to face layered suppression. For the bulls to turn the current market structure around, they still need stronger momentum. However, in recent sessions, the chart has repeatedly shown a pattern of probing lows and then rebounding. Even if the price temporarily breaks below prior lows, it can quickly pull back, indicating that the current bearish power is gradually being digested. The short-term downside pressure has eased somewhat, and a complete one-way bearish reversal has not formed.

From the perspective of the hourly chart structure, around 4600 is the starting point zone of the early-session decline, exerting a clear downward pressure on the price. Meanwhile, 4610 is the intraday short-term strength/weakness line. If the early session holds a weak pattern, it is unlikely to break through this level. Given the current consolidation rhythm that is leaning weak, the overall intraday bias still remains “rebound and then sell at higher prices.” Do not blindly bottom-fish.

If, afterward, the price retraces and rebounds to above 4600 but then runs into resistance, you can look for short-term opportunities to sell at resistance. Focus on the follow-through of the decline after a break below the level. If it unexpectedly holds steady above 4610, that would indicate that short-term weakness has eased. At that point, you need to adjust your thinking in time to avoid trading against the trend. Overall, keep to a range-based layout around key levels, strictly manage risk, and don’t chase rallies or sell in panic.
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