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[Spot gold technical side] From the 4-hour K-line chart, the current gold price is running near the lower track of the Bollinger Band, and the Bollinger Band channel shows a clear opening, indicating that the short-term volatility continues to expand. Recently, the gold price has fallen rapidly from the high of $3438.80, forming a typical short-term downward trend structure. At present, the price has effectively fallen below the previous low support level of $3360.00, and continues to run between the middle track and the lower track. The lower low has been refreshed to $3320.51, indicating that the short-term kinetic energy is dominant and the short-term correction trend has not ended. The lower Bollinger track is currently located near $3308.37, becoming the focus of short-term support observation. Analysts believe that if this price is lost, the probability of further testing the low of $3282.61 will increase significantly. In terms of the MACD indicator, the fast and slow lines continue to decline. Although the short-term columnar kinetic energy shows signs of convergence, it has not yet formed an effective golden cross, and the overall situation is still in a dead cross state. The MACD value is -9.43, indicating that the bearish trend has not yet exhausted, and we still need to be vigilant about the risk of inertial decline in the short term. The RSI indicator is running at the edge of oversold area, and the current value is 32.74. Although there is no clear reversal signal, it has been hovering at a low level for a long time, and there is a possibility of a technical rebound. However, if it cannot quickly return to above 50, gold still has room to fall. In summary, the technical side shows that the downward trend of gold still dominates the market. If the short-term rebound cannot break through the resistance above $3,360, it will be regarded as a weak pullback.