1. Trend Stage Analysis

Downtrend Stage: Gold prices have experienced a clear downward trend, rapidly falling from relatively high levels, with the lowest touching around 4,520, forming a stage low.

Consolidation and Bottoming Stage: After reaching the low point, prices did not continue to decline but instead moved sideways within the 4,520-4,600 range, testing the upper and lower boundaries multiple times, gradually building a bottom structure.

Rebound Breakthrough Stage: Recently, prices broke through the upper boundary of the consolidation range (about 4,600) and showed a continuous upward trend. The current price is approaching the resistance level near 4,661, indicating that bullish forces are gradually taking control.

2. Key Level Interpretation

Support Levels:

4,578: An important recent bottom area during consolidation. If the price retraces to this level, it may receive buying support.

Near 4,520: A strong support zone. If the price falls back to this level again, it is likely to trigger a bullish rebound.

Resistance Levels:

4,661: The current price is close to this level. If it can be effectively broken through, it may further challenge higher resistance levels.

4,690: The rebound high during the previous decline, an important resistance zone. If the price breaks through 4,661 and continues upward, this could become the next target resistance