The gold daily line closed at 4133.11, with the lowest drop last night near 4065, an increase of 0.57%. The market has also confirmed the butterfly pattern point C support at 4050 mentioned in the previous analysis, and it currently appears to be entering a rebound repair stage.

Although in technical analysis, 4050 is the core defense level of the butterfly pattern, if this position holds, the C-D segment rebound structure remains intact, and the market is expected to continue towards the target point D; once it effectively breaks below 4050, this round of rebound will be declared invalid, and gold prices will begin a deep correction.

Secondary support: the lower edge of the triangle pattern at 3980-3950, which is a densely accumulated support area; strong support at the extreme downward channel's end at 3726, which belongs to the mid-term bottom range.

On the macro level, the Federal Reserve's high interest rate expectations continue to suppress the upward space for gold prices, and central bank gold purchases only provide medium to long-term bottom support, with a high probability of short-term fluctuations.

Short-term operation reference

A buy position can be attempted when pulling back above 4080-4100; protect the C point at 4050, with a target of 4180-4220, if broken, it approaches 4250-4280, if not broken, consider shorting.

Personal opinion, for reference only.

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