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$XAU Jin Chen Yu Jin | The current gold price trend is a rebound from an oversold correction after a sharp decline, not a trend reversal.
The daily level of 4500 is the lifeline for the bulls; support has been found on two dips, and bearish momentum has weakened, but the moving averages still show a bearish alignment, and the overall downward pressure has not been broken.
On the 4-hour level, short-term rebound momentum is sufficient, with 4630-4650 as the key intraday strong resistance zone.
On the 1-hour level, the short-term bulls are dominant, and the core support for the day has moved up to the 4580-4590 range.
Today’s gold trading idea: primarily buy low and sell high.