Gold's weak rebound ends, the bearish wave is about to hit

On the news front, the previously driving expectations of interest rate cuts pushing gold prices higher continue to cool down, with hawkish Federal Reserve comments constantly fermenting, and market bets on rate cuts this year significantly retreating. The US dollar index is supported and stabilizing, continuously suppressing the upward space of gold from a fundamental perspective. Coupled with the fact that many countries' financial markets are closed today, market liquidity is relatively weak, and the rebound lacks incremental funds to boost it. The bullish positive factors have been mostly digested.
On the technical side, the four-hour cycle shows that the small rebound after a sharp decline in gold prices is only a weak correction, with the Bollinger Bands generally opening downward, and the large-scale bearish trend has not reversed. The price is under pressure in the middle-upper band range, the KDJ indicator's bullish momentum is rapidly diminishing, and upward strength is severely lacking.
Suggestions:
Gradually buy around 4610-4630 during the rebound, if the rebound is strong, buy around 4650, with targets at 4550 and 4500.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk accordingly.