Spot Gold (XAU) Long-term Layout

Three lines diverging downward, the overall major trend remains in a downtrend, currently just a weak rebound after oversold conditions, not a reversal to a bull market yet; MACD: green bars turning short, DIFF about to cross above DEA, indicating a corrective rebound after a decline, not a bull reversal; KDJ at low levels with a golden cross upward, short-term rebound momentum exists, but overhead resistance is heavy.

Currently, there is a rapid short-term rally, with KDJ entering high zone, indicating an ultra-short-term surge and pullback buildup, with a need for a pullback, do not chase longs.

Strong support: 4457–4460 (this round's low point), the lifeline for the long-term bulls.
First resistance: 4570–4580 (the previous low point where the decline started)
Second strong resistance: 4650, a major threshold (the dividing line between bulls and bears)

1) Long-term bullish strategy (main idea: buy on dips in batches, do not chase highs). Gold this round is a technical correction after a high-level plunge + repeated risk aversion on the fundamentals; a true long-term reversal requires stabilizing above 4650.

Rebound and stabilize around 4460–4480 for low-volume buying in batches, with stop-loss set below 4440 (if it breaks this round's new low, stop-loss immediately, trend fully turns bearish).
First long-term target: 4580, second target: 4650 (if it breaks 4650, then look at the previous highs of 4720–4770); currently around 4530, do not hold large long positions now, as the 4-hour major trend is still bearish; this is just a rebound, chasing longs is prone to being washed out by pullbacks, suitable for light positions to try longs + wait for pullbacks to add positions.

2) Long-term short strategy (defensive approach)

If the rebound hits resistance at 4570–4580 and pulls back, consider lightly establishing long-term short positions: entry at 4575–4580 under resistance, stop-loss above 4610, long-term target at 4460 support, if broken, look below 4400.