Yichen: Stop blindly bottom-fishing! The gold's weak downward trend is becoming clear

The four-hour chart price has already fallen below the mid-line support, operating below the moving averages, and the bullish structure has completely weakened. The three lines of KDJ continue to diverge at low levels, and the bearish momentum is steadily releasing, indicating that the short-term downward trend has taken shape.
Although the Middle East geopolitical situation still provides a safe-haven support, market risk aversion sentiment has been fully absorbed, and signs of funds taking profits and exiting are obvious. The Federal Reserve's rate cut expectations fluctuate repeatedly, and the bullish upward momentum continues to weaken, gradually opening the downside space.

The first key support below is at 4765 on the daily chart; once broken, it will open a deeper downward space. The upper 4800 Bollinger middle band becomes a strong resistance level, and the lack of rebound difficulty cannot change the weak pattern.

Suggestions:
Rebound near 4820-4840, buy in batches; aggressive traders can buy around 4800, targeting 4760, 4700; if broken, continue to look down to 4650.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk based on this. $XAU