Gold holding steady above 4500 means there is opportunity amid danger—waiting patiently for a counterattack from the absolute bottom.

Although geopolitical turmoil triggered a sharp selloff at the start of the week, the technical picture had already been signaling in advance. After gold lost the 4650 level, the trend has turned extremely weak, and it is now in a life-or-death standoff at the 4500 threshold.

The daily chart is pressing against the lower Bollinger Band, with a dense supply/resistance zone forming above between 4550-4650. But as long as the 4500 defense line is not broken, it is not advisable to take excessive short positions. The H4 timeframe shows signs of slowing down and stabilizing, indicating strong support from bargain-buy orders at lower levels.

For today, the key focus is the 4500-4580 range. If 4500 is held, price could potentially rebound in the short term to 4580, and even test the heavy resistance at 4650.

Trading suggestion: Go long on pullbacks in the 4515-4520 area, defend at below 4500, with targets at 4560-4580.