On Friday, gold rebounded to 4259 before plunging directly, quickly falling back by 60 dollars, at one point breaking through the 4200 level, reaching a low below 4190. This kind of trend caught everyone off guard, and the four-hour chart maintained a cloud cover rhythm, with a large bearish candlestick completely covering the bullish candlestick. The candlestick started to gain momentum from above the 50 moving average, directly breaking through support!

Of course, the candlestick rebound is still under pressure, the previously mentioned 4220 level is the dividing line between bulls and bears, and this point remains unchanged. Clearly, the current gold price is below this resistance, meaning support has turned into resistance, which is a clear sign of pressure. The upper resistance remains strong, and we need to pay attention to the Federal Reserve's interest rate cut this Thursday. The market is highly likely to cut rates, and before the rate cut, the focus remains on short positions, unless the gold price stabilizes around 4250, otherwise, the theme for the new week will be on short positions.

Gold: Short around 4220-4225, looking down to 4190-4170