Gold's volatile decline is in line with expectationsFrom the perspective of the 4-hour cycle, a big negative line closed down, breaking the support of the 5-day and 10-day moving averages. This wave may continue to fall to the Bollinger middle rail near 3300, but if it is a high-level shock, the Bollinger middle rail is not broken, and it may rise again to the high point of 3430. In this cycle, gold has experienced a big rise and fall, and now it is possible to rise or fall. In the short-term cycle, we will first pay attention to the support effect of 3360-3350 under weakness. If it does not break, we can continue to go long and bullish, with the upper target at 3400. On the whole, the short-term operation strategy of gold is recommended to be mainly short-selling on rebounds, supplemented by long-selling on pullbacks. The upper short-term focus is on the 3400-3405 line of resistance, and the lower short-term focus is on the 3350-3300 line of support.
