Gold has recently exhibited a typical pattern of deep declines during the night trading sessions followed by rebounds during the day, returning to a large-range consolidation pattern, with the 5000 level serving as the key dividing line between bulls and bears. As long as the 5000 support holds, the overall approach remains focused on range-bound fluctuations and buying on dips; if this support is effectively broken, the short-term trend will likely follow through to test support near 4850.

From a daily chart perspective, the current trend remains generally weak, with gold closing lower for two consecutive days. The 5-day and 10-day moving averages are in a bearish alignment, exerting strong downward pressure on the price. The current pullback is a normal correction within a bull market, with fluctuations and rhythm shifts being typical. The 4-hour cycle continues to operate within the large range, showing some short-term technical rebound demand, but rebound momentum is lacking. The MACD green momentum bars are slightly shrinking, indicating easing downward momentum; the strength of short-term bulls and bears is diminishing. In the near term, focus is on the 5000 level: if it remains supported, the rebound will continue; if broken, downside space will open. If the rebound stabilizes above $5120, bearish momentum will weaken temporarily, and a slight short-term correction or rebound is expected.

Currently, the market lacks clear directional guidance, with volatile swings highlighting the consolidation nature. Only by maintaining patience and sticking to range trading can traders avoid short-term volatility risks and seize cyclical positioning opportunities.

Disclaimer: The above content reflects personal views and opinions only and does not constitute trading advice.