Spot gold staged a rebound correction after a second downward probe on September 30, yet the daily moving averages remain in a bearish alignment with prices trading below 4,200, leaving the broader weak structure intact.

The intraday bounce is seen largely as a technical correction within a downtrend, so the preferred approach remains selling into rebound resistance, supplemented by short longs on stabilized pullbacks.

The key short-term dividing line sits at 4,200; until price firmly reclaims this level, upside potential stays capped, while the downside focus rests on the 4,160—4,150 support zone, a break of which would expose risk toward 4,110 once more.

Daily moving averages still lean bearish, and while the 4-hour chart shows a bottom divergence that needs repairing, rebounds should still be treated as corrections until price effectively holds above 4,200.

Tonight's ADP private payrolls and core PCE data will directly influence rate-hike pricing, with Friday's nonfarm payrolls also on tap, suggesting position sizes should stay light ahead of the holiday.

Key levels: resistance at 4,205 and 4,245; support at 4,150 and 4,110. Entry points and ranges: aggressive shorts at 4,205/15 with a 25-point stop, conservative shorts at 4,235/45 targeting 4,150 and hold on a breakout; aggressive longs at 4,155/45 with a 35-point stop, conservative longs at 4,125/15 targeting 4,170 and hold on a breakout. [GOLD dividing line: $4,200 per ounce. Note: The above views are for reference only; in extreme market conditions, strict risk control is essential.]

WTI crude oil staged a short-term recovery after yesterday's sharp decline, but supply restoration and a firmer dollar continue to cap upside, keeping the intraday bias toward range-bound pressure.

WTI's front-month contract fluctuated around the $89—90 per barrel area, while Brent held near $96 per barrel.

WTI front-month settled near $89.38 per barrel yesterday, down about 3.5% and briefly breaking below $90, before a modest Asian session bounce to the $89.5—89.6 per barrel area.

Brent's front-month fell back to around $96 per barrel, with the December contract lower still and the monthly spread widening.

Saudi Arabia's east-west pipeline has recovered faster than expected, the Red Sea's Yanbu port has restarted oil loading, Middle East crude exports have rebounded to their highest since the conflict began, the United States plans to release up to 40 million barrels of strategic reserves via swaps, and API data showed builds in crude and gasoline inventories, weighing on the demand side.

Tonight's EIA inventory data, along with US-Iran diplomatic signals and moves in the dollar and Treasury yields, are in focus.

Key levels: resistance at 93.0 and 95.0; support at 88.0 and 85.7. Entry points and ranges: aggressive shorts at 92.0/92.7 with a 93.2 stop; conservative shorts at 93.7/94.5 targeting 89.0 and hold on a breakout; aggressive longs at 88.7/88.2 with an 87.5 stop, conservative longs at 86.5/85.8 targeting 92.0 and hold on a breakout. [WTI dividing line: $92.0 per barrel. Note: The above views are for reference only; in extreme market conditions, strict risk control is essential.]