Never chase too high! Gold is showing weakness with a rebound, a sharp decline could happen at any time

From a technical perspective, the four-hour chart shows that gold prices previously declined continuously, maintaining a complete downward channel. The current rebound hits the middle band of the Bollinger Bands with obvious resistance, which is a technical correction after a big drop. Although the KDJ indicator shows a short-term turn-up, it remains in the high zone, indicating that the rebound momentum is insufficient, and the bullish rebound strength is weak, with heavy resistance above.

On the news front, market risk aversion is gradually fading, and the previous positive factors have been exhausted. The buying momentum from the bulls is powerless, and the rebound is just a trap to shake out weak hands. The long-term bearish momentum has not been fully released, and a slight rebound presents an excellent shorting opportunity.

Suggestions:
Rebound around 4645-4670, staggered short positions, target 4580, 4530

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.