After a sharp drop, a weak rebound! The 4100 lifeline holds, under pressure at 4200!

After Friday's disappointing nonfarm payrolls, gold prices rebounded from a low of 4063. In today's Asian session, they rose to 4205 before encountering resistance and falling back, hitting a low of 4150 key support before a slight recovery. Currently trading around 4180. The overall pattern is a "rise then fall, consolidation" with a bearish bias. The battle between bulls and bears is intense, with 4100-4150 as an important short-term defense line for bulls, while 4200-4230 forms a strong resistance zone.

Technically, bearish signals still dominate: The TRIX trend indicator continues its death cross below the zero line, and the medium-term downtrend remains unchanged; The MACD fast and slow lines have a golden cross at a low level below the zero line, but the red histogram bars are insufficient in volume. The bullish momentum is only a weak recovery after an oversold condition, lacking sustainability and volume support; The RSI indicator is around 41, neutral to weak. Although KDJ shows a need for oversold recovery, the rebound strength is limited. On the daily level, prices are still operating within a downward channel, with SMA50 and SMA120 forming a double resistance. The rebound is merely a technical correction, and the medium-term bearish pattern has not reversed.

Conservative layout: Short when rebounding to the 4190-4210 range, as well as at 4240 and 4310, with targets at 4160-4140; if the 4150 support is broken, you can add positions accordingly, looking down to the key support zone of 4120-4100. If 4100 is breached, continue to look lower.
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