Gold has rebounded after the recent pullback and recovered back above $4,700, showing a short-term oscillating upward trend. As previously noted, periodic declines have presented buying opportunities, and the current rebound aligns with expectations.
However, a clear reminder: the medium-term correction is not over. This rebound is only a technical recovery, not a trend reversal. The market still holds significant downward pressure and is likely to weaken again, with a target near $4,600.
Trading Guidance
For those holding short positions, seize this rebound to take profits and manage exits.
For those not in positions, do not chase highs blindly — this is not an ideal medium-term long entry point.
I will share precise entry levels and risk management plans in advance once clear, safe buying opportunities emerge. Stay tuned.