Gold

The recent wave trend judgments are quite aligned.
4100 indicates a rebound is coming.
4400 suggests a rebound expectation to 4800-4900.
Today’s preliminary estimate is that below 4750, it will likely retrace back to around 4400 for a rebound.
The market attribute is a downward correction of the rebound.
It’s not that it won’t rise; under the current risk-averse situation, high oil prices, and inflation expectations with high interest rates, the previous upward momentum driven by risk sentiment has diminished.
After all, the U.S. non-farm payrolls in March exceeded expectations, and the unemployment rate fell, further dampening market expectations of Fed rate cuts.
Therefore, in the medium term, it remains a bearish correction under the 4700-4720 resistance, with expectations in the 4500-4400 range.
$XAU