Gold These recent wave movements have been pretty on point. At 4100, we reminded you that a rebound was coming. At 4400, we predicted the rebound target to be around 4800-4900. Today, we’re forecasting that below 4750, the price is likely to pull back again to around 4400 before rebounding. The market trend is a downward correction rebound. It’s not that prices won’t rise, but under the current situation—with risk aversion, high oil prices, inflation expectations, and high interest rate pressure—the previous continuous upward momentum driven by risk aversion is no longer there. After all, the U.S. March non-farm payrolls exceeded expectations, unemployment rates fell, and the market’s expectations for a Fed rate cut have been pushed further back. So, in the mid-term, we’re still bearish under the 4700-4720 resistance, expecting a pullback to the 4500-4400 range. XAU