4.24 Gold Short-Term Downside Risks Intensify, Rebound Remains Weak and Still Biases Bearish

4-Hour Level: MA5/MA10/MA20 are arranged in a standard bearish alignment, with gold prices continuously under pressure below the moving average bands. Rebounds repeatedly face resistance in the 4720-4740 range and fall back, with short-term moving averages exerting strong resistance. The Bollinger Bands are opening downward, with prices oscillating weakly along the lower band, and rebound momentum is severely lacking. MACD remains in a dead cross below the zero line; although the green bars have slightly decreased in size, no effective golden cross has formed, only indicating a brief slowdown in bearish momentum. The overall downward trend has not reversed.

1-Hour Level: The short-term chart shows a descending triangle pattern, with the high points continuously moving lower. Support levels at 4660-4650 are repeatedly tested with tug-of-war. Short-term moving averages are aligned in a bearish configuration, with prices consistently trading below the moving average system. Each small rebound is met with resistance and falls back. MACD repeatedly crosses above and below the zero line, with weak and inconsistent red bars, indicating a lack of bullish momentum. The short-term trend remains weak and volatile; do not blindly buy the dip.

Gold Trading Strategy: Short at 4720-4730, with a stop loss at 4750, target 4680-4650.

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