Will the rebound in London gold prices continue after hitting a From a 4-hour chart perspective, gold prices remain below the 100-day moving average around 4633. The 14-day RSI is around 36, below 50 and not yet in oversold territory, indicating that downward momentum remains but has not fully dissipated. Furthermore, the death cross of the 21-day and 50-day moving averages, confirmed on March 25th, further strengthens the bearish signal. Looking at the price action over the past two trading days, the bearish momentum is gradually being absorbed, but the price is still trading below key short-term moving averages, showing that the short-term weakness has not yet completely reversed. The previous rebound from below $4099 also indicates that buying interest has begun to emerge at lower levels, and the bulls are attempting to regain control. Overall, gold is currently in a wide-range consolidation phase in the short term.
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