Violent rebound after sharp decline! The 4540 critical support holds, aiming for 4680!

On Friday, gold plunged to a low of 4520 at the end of trading but then strongly rebounded. Today during the Asian session, it oscillated upward, breaking through the 4600 key level and accelerating higher. Currently, it is trading strongly around 4645, with an intraday increase of over 1.12%. The overall pattern shows a "bottoming out and rebounding, strong breakout" bullish trend. In the battle between bulls and bears, the bulls have gained the dominant position. The 4540-4560 zone has become a short-term solid defense line. The tense Middle East geopolitical situation and the weakening dollar jointly drive the gold price higher.

Technical bullish signals are fully activated: The TRIX trend indicator has formed a bullish crossover at a low level, the MACD fast and slow lines have completed a bullish crossover below the zero line and are rising rapidly, and the red momentum histogram continues to increase, accelerating bullish momentum. The rebound space is effectively opened. The 4540 support zone has withstood multiple tests, and the short-term technical correction has evolved into a trend reversal demand. The four-hour chart shows a "W bottom" pattern, with the price breaking above the neckline at 4600 and then pulling back for confirmation. The Bollinger Bands are opening upward, RSI has rebounded from oversold territory to 62 in the strong zone, and volume and price are well coordinated, further solidifying the foundation for a daily-level rebound.

Steady positioning: Buy on dips around 4620–4635 and 4580–4605, with targets at 4670–4680; if a strong breakout occurs above 4680, add positions to chase the long, aiming for 4700–4720, and follow the trend to grasp the main upward wave of the bulls.