On Friday, gold surged to 4660 at the close but faced resistance and pulled back, today during the Asian session it fluctuated downward, briefly touching the key support at 4592 before bouncing back. Currently trading around 4611. The overall pattern shows a "rising then falling, weak rebound" trend, with fierce battles between bulls and bears. The 4600 level is an important short-term resistance for the bears, and the 4580-4560 zone below forms a critical support band.

Technical signals indicate a predominantly bearish market: the daily TRIX trend indicator remains in a death cross pattern, continuing the medium- to long-term downtrend; the MACD fast and slow lines are below zero and have crossed downward, with the green momentum bars briefly converging but then increasing again, indicating that the bearish momentum has not been fully released, limiting the rebound potential. On the four-hour chart, prices remain under pressure below the short-term moving averages MA5 and MA10, with the Bollinger Bands opening downward, and prices oscillating near the lower band, reinforcing the bearish arrangement. The RSI oscillates repeatedly between 40 and 50, with no clear oversold signals, indicating a lack of momentum to support a strong rebound.

Steady strategy: short at the 4630–4650 zone during rebounds, with a stop loss at 4670, targeting 4590–4560. If the rebound exceeds expectations, consider adding to short positions at the strong resistance zone of 4670–4680, with a stop loss at 4700, aiming for a target of 4620–4600. Strictly control position sizes, and ensure stop losses are executed to prevent risks from sudden news-driven volatility.