After the Deep V rebound, pressure remains at the high level! Holding the 4790 lifeline, aiming for 4830!

After gold surged to 4855 at the end of yesterday’s session and then ran into resistance and pulled back, today in the Asian session it fluctuated downward. The low reached 4790, the key support, before probing the bottom and rebounding. It is currently trading around 4803. Overall, it presents a broad-range consolidation pattern of “surge up, pull back, test the bottom, and rebound,” with bulls and bears battling intensely. 4790 is an important near-term defense line for the bulls.

On the technical side, bearish signals still dominate: the TRIX trend indicator has turned down from a high level, the MACD fast and slow lines form a dead cross and diverge above the 0 axis, the green momentum histogram continues to expand with incremental growth, and bearish momentum has not been completely eliminated, limiting rebound potential. However, with 4790 support holding effectively, there is a short-term need for technical stabilization and repair.

Specific trading suggestions: Watch how price handles the 4820-4835 zone above and also the 4850-4870 zone. If levels are reached but not broken, you can try going short from higher levels. If it breaks down further, look for 4785, 4745, and then 4700 to be broken before continuing to look lower
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