Yichen: The stunning reversal in gold! The 4800 high has peaked—next week, is it time to bottom fish or take profits?

From a technical perspective, the four-hour rebound momentum is significantly weakening: the Bollinger Bands are contracting after expansion, with the price falling back above the middle band, which is at $4646 as a key support. The lower band at $4500.74 provides strong support; the three lines of the KDJ indicator are rapidly falling from the overbought zone, forming a death cross, indicating a clear short-term bearish signal. Resistance above is concentrated around the 4800 level, while support is in the $4550-$4600 range.

On the news front, multiple bearish factors are intertwined: the strengthening dollar suppresses gold, Middle Eastern geopolitical risk sentiment is gradually easing, previous buying momentum has receded, and bulls are eager to take profits, leading to increased capital outflows and intensified correction pressure.

Next week, gold is likely to trade within the $4550-$4800 range. Trading strategies should focus on shorting at higher levels and buying on dips. Consider short positions around $4750-$4780, and light long positions on pullbacks to $4580-$4600, with strict risk management $XAU .