Gold Oscillation Correction: Reversal or Continuation? The key depends on these two levels!

Currently, gold is in a corrective and consolidating phase after a round of decline, but the underlying structure is still bearish. Although the market is pricing in rate cut expectations, those expectations have already been partially digested; U.S. Treasury yields have stabilized temporarily, putting pressure on gold prices. At the same time, there is no new escalation in geopolitical tensions, safe-haven demand is weakening at the margin, and funds are no longer continuously flowing into gold—bullish momentum has clearly weakened.

From a technical perspective, the 4-hour timeframe shows sideways consolidation after a rapid selloff; the Bollinger Bands are gradually tightening, and the market is waiting to choose a new direction. The 1-hour structure shows price repeatedly oscillating around the 4660 area, with a clear resistance around 4700. The highs are gradually shifting lower, displaying weak rebound characteristics—more like a bearish continuation than a trend reversal.

In terms of trading approach, shorting on rebounds is the main strategy:

Focus on how well the 4670-4720 zone holds as resistance; for downside targets, watch 4620, 4580, and even lower in sequence.
If the price effectively breaks below 4600, the bears will gain further momentum, and the market may enter an accelerated down move.

Long positions are only suitable for short-term rebound participation around 4580; currently, there is no value for trend-following positioning.

Summary: Gold currently has a bearish-leaning structure within a consolidation range. The key pivot levels are between 4700 and 4600. Until a breakout occurs, maintaining a high-short bias is more prudent. Trading is the art of waiting, and also decisive execution—only by going with the trend can you last long.

⚠️ Investing involves risk; enter the market cautiously. The analysis above is based on personal views only and does not constitute investment advice.