Midday Analysis:

Judging from the current gold market, gold prices have been trading under continued pressure. The overall bearish structure remains solid. Rebound room is severely limited. On the daily chart, the moving averages are aligned bearishly. Recently, gold prices have been under pressure below moving averages across all timeframes. On the 4-hour chart, prices repeatedly surge and then fall back; each round of small corrective recovery is accompanied by heavy, concentrated selling pressure. It is still a weak, sideways-to-bearish consolidation trend. For short-term trading, watch resistance above 4100, and short at highs during rebounds; 4050 serves as short-term support below. Overall, the main trend is bearish, and short-term positions should mainly be high-level shorts during rebounds.