Gold Technical & Trading Strategy Update GOLD / US DOLLARPYTH:XAUUSDChuck_WilsonThe 1-hour moving average for gold is still in a clear downtrend and has not yet shown any signs of a golden cross. This indicates that the downward momentum has not yet been fully digested by price pullbacks and further downward tests, and a rapid V-shaped rebound is unlikely in the short term. Gold is expected to remain in a weak consolidation phase in the short term. For the bulls, breaking through and confirming above $4,500 is key. Key Resistance Levels and Upside Potential If gold rebounds intraday, the initial target is the high resistance zone of $4510-$4530 from yesterday. A sustained close above this range would alleviate short-term downward pressure, creating room to move towards the next key resistance level of $4600-$4680. Technical Indicator Signals The 5-day moving average (MA) and MACD indicator remain in a death cross pattern, further reinforcing the short-term downtrend. However, the KDJ indicator is forming a golden cross, and the RSI indicator has also rebounded from a death cross position—indicating that a technical pullback/rebound is emerging after the recent sharp sell-off. This rebound requires further price strength to validate its sustainability. Market Fundamentals Key bearish factors remain: high US Treasury yields and a stronger US dollar index (DXY) are putting pressure on gold prices, while weakening safe-haven demand is further suppressing bullish momentum. Although the market is oversold and a technical rebound is expected, a strong reversal is unlikely due to a lack of new positive catalysts. We expect the market to trade in a range at lower levels and slowly form a bottom. Trading Recommendations (Short-Term) Adopt a buy-on-dips, sell-on-rallies strategy: Short Positions: Enter short positions in batches between 4500 and 4510. Long Positions: Enter long positions in batches between 4300 and 4310. We welcome all traders to share their opinions, and let's move forward together in this market. XAUUSD XAUUSD GOLD XAUUSD