This wave of gold market is quite interesting. The price has directly dropped to around 4470, and the buyers clearly have the absolute advantage. The current strategy is very simple - go with the trend and don't overthink.

To be honest, as long as gold prices pull back, that’s an opportunity to enter the market. The support zone is stuck around the 4380 line - this position was previously resistance, and now it has reversed to become support. From here upwards, there’s basically no significant resistance. It’s purely a one-sided market, and in the short term, we should focus on the range of 4480 to 4490. As long as the price firmly stays above 4400, we should continue to benefit from the bullish trend.

From the performance of the daily chart, it has been oscillating at a high level for a whole period last week, and today it finally broke upwards. It directly surpassed the previous historical high of 4381 and subsequently crossed the 4400 mark. Currently, this large bullish candlestick is basically an effective breakthrough, but ultimately it depends on what the closing looks like. If the closing can stabilize above 4381, the greater the distance, the better, then the upcoming market may enter the second phase - a continuous strong one-sided rise will gradually begin.

Looking at the 4-hour chart, a large bullish candle has shot up directly, indicating a clear bullish bias in the technicals. However, there is something to pay attention to here—the top of the candlestick has consistently shown upper shadows, suggesting that there is still resistance above. Therefore, I do not recommend chasing the price up at this moment; a wiser approach would be to wait for the price to pull back and consolidate before entering. Additionally, consider that if this period of high consolidation ultimately does not break through, the risk of a pullback will gradually accumulate. On the other hand, the longer the consolidation lasts, the more energy will accumulate, and once a successful breakout occurs, the subsequent increase could be particularly fierce.

The current situation is as follows: the previous high point of 4382 has completed a role reversal, turning from resistance into support. As long as the gold price does not fall below the 4380 area, the bulls' advantage still exists. Based on these judgments, the main strategy should still be to go long, with a focus on the support zone near 4400 in the short term, with the key level being 4382.