Gold forms a weak high after surging near 4560, then proceeds with a stepwise unilateral decline, and rebounds at the strong support level of 4300. This is a typical technical correction in a bearish trend.

Looking at the 4300 level—it's the recent low of this decline and the initial formation of an arc bottom below. The key point here: if 4300 is effectively broken downward, the price will continue to probe lower toward 4280.

From a rebound perspective, the 4380-4390 zone is very critical. This is a short-term consolidation platform left during the previous decline, now forming the upper boundary resistance of a descending flag pattern, becoming the first obstacle to the rebound. Want to break through? Overcome this first.

On the larger cycle, the trend remains locked within a major downward channel. The current rebound is just a secondary wave within the channel, and it hasn't yet touched the upper boundary near 4430. The structural advantage of the bears remains unchanged, which is crucial.

In practical trading, consider short positions around 4480-4490, targeting levels at 4330, 4300, and 4280 in a stepwise decline. Of course, entry should also be judged based on actual candlestick patterns—don't rigidly apply rules without analysis.