After the sharp decline in gold, how will the rebound trend conclude

From the news perspective, the market's expectations of a Federal Reserve rate cut are fluctuating, the US dollar index is oscillating at low levels, combined with a cooling of global risk aversion sentiment, significantly weakening the safe-haven buying support for gold. Previously, gold prices continued to be pressured downward from a high of around 4891, resulting in a deep correction trend.

On the technical side, the four-hour chart shows that after the gold price fell and found a bottom, it stabilized and began a technical correction rebound. Currently, the price is trading above the middle band of the Bollinger Bands, with downward momentum clearly weakening. The KDJ indicator is in a neutral to slightly strong zone, indicating short-term rebound momentum still exists, but there is strong resistance at the upper Bollinger Band around 4653, limiting the rebound space.

The overall market trend still maintains a bearish structure; this round is only an oversold correction. In terms of trading, do not blindly chase long positions. The rebound resistance area can be viewed as a pullback, with key supports at 4590 and 4560. If these supports are broken, the bearish trend will continue again.