Violent rebound after a sharp drop! The 4280 lifeline holds, targeting 4350!

On Friday’s late session, gold probed the bottom at 4024 and then rebounded. In today’s Asian session, it opened with a gap up. After the low touched 4285, a key support level, prices continued to climb steadily and are currently trading around 4326. The intraday gain is 0.76%. Overall, it is forming a choppy rebound pattern characterized by “bottoming out and rebounding, and strong repair.” The battle between bulls and bears is intense. 4280 is an important near-term defensive line for long positions, and the 4300 round-number level has successfully held.

The technical bearish setup has not fundamentally turned around: on the daily timeframe, the TRIX trend indicator is still in a death cross state. The MACD fast and slow lines are running in low territory below the 0 axis. Although the green momentum histogram shows signs of narrowing, bearish momentum has not completely dissipated. Rebound upside remains capped by the strong resistance band at 4350–4380. However, the 4280 support is effective, and on the four-hour timeframe a bottom-divergence structure has appeared. The RSI indicator rebounded quickly from the oversold zone to around 48. There is strong demand for a short-term technical correction. On the hourly chart, a bullish arrangement within a small cycle has formed, providing rebound momentum.

Steady positioning: short in the 4335–4355 zone and the 4425–4445 zone. Targets are 4310–4290. If price breaks below 4240–4220, you can continue to hold with downside looking toward 4200. If 4200 breaks, continue to maintain downside bias toward where it goes next.
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