Gold has pulled back from its high of 4601 and the current price of 4535 is facing a critical support test. The moving average system above shows clear resistance, and weak rebounds suggest bearish sentiment is dominant. If the price can stabilize at the 4500 level, a technical correction may follow.



Operationally, it is recommended to focus on selling on rebounds. Short positions can be established in the 4580-4600 range, with targets at 4500 and 4480. If these levels break, the next target is around 4450.
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