1. Previous Market Review

- Tuesday night gold prices surged to 4180 then pulled back to 4090;

- Wednesday gold prices touched 4135 then accelerated decline due to related remarks, broke below 4090 support, dipped to a low of 4040, then rebounded to around 4090; in the early morning, it dipped again to 4020 before rebounding;

- Thursday gold prices retested 4090 support without deep adjustment, rebounding to a high near 4140.

2. Core Technical View

- After breaking below the key support of 4090-4095, gold prices did not continue the downtrend, forming an ascending channel with higher lows and higher highs; the short-term rebound trend is clear;

- 4090 is today's bull-bear divide: as long as it is not broken, the rebound dominates; if it effectively breaks and closes below, the rebound will end, and gold prices will likely return to a downtrend.

3. Subsequent Trend Forecast

- Rebound phase: if 4090 support holds, gold prices will continue rebounding; the first resistance above is 4140, and after breaking through, it can look toward the 4180-4200 range;

- Decline phase: if 4090 breaks, promptly switch thinking; a rebound to resistance levels could be considered for shorting.

4. Important Reminder

- The above are personal views and do not constitute any trading advice;

- Be cautious of 'Black Friday' market movements; focus on the validity of support at 4090.
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