Weak rebound after a sharp drop! The 4,000 life-or-death line was held with difficulty—attempted pullback lacks strength, and the short-dominant pattern remains unchanged!

At the end of trading on Friday, gold surged toward 4,060 but met resistance and fell back. In today’s Asian session, it has been consolidating and moving lower, with the low dipping to 3,982, a key support level, before rebounding. It is currently trading around 4,029. Overall, it shows a choppy pattern of “spike up then pull back, then probe lows and rebound.” Long-versus-short competition has intensified, with the 4,000 integer level acting as an important near-term defense line for bulls. The 4,030–4,035 area has formed strong intraday overhead resistance. The rebound strength is clearly weak—this looks like a technical correction in the middle of a decline, not a signal of a trend reversal.

Technically, bearish signals dominate: the TRIX trend indicator on the daily timeframe continues to run with a sustained death cross moving downward, confirming a clear mid-term downtrend. The MACD fast and slow lines remain in a death-cross structure below the 0 axis; although the green histogram bars show slight convergence, bearish momentum has not fully faded, limiting upside room. On the four-hour timeframe, price is still trading within a downward channel. The 20-period SMA (4015.72) and the 100-period SMA (4068.48) create a dual layer of suppression. The RSI indicator has risen from the oversold area (28.538) to 51.16, but it has not yet formed an effective breakout, indicating insufficient rebound momentum. The 4,000 support is holding effectively; there may be a need for a technical repair in the short term, but it is unlikely to change the mid-term bearish trend.

Conservative positioning: short in batches at the 4,030–4,050 range, as well as at 4,095 and 4,145. Targets are 4,010–3,990. If 3,982 support breaks, further downside could extend to the stronger support zone at 3,960–3,940. If new lows break as well, you can continue to look toward below 3,900. Pay attention to whether the strong support area below can hold.
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