Gold generally moved in a oscillating decline yesterday, with repeated shakeouts and fluctuations during the day, and a direct break lower in the evening. The daily chart ultimately closed with a long upper shadow bearish candle, clearly showing heavy resistance and selling pressure above.

From a technical perspective, the short-term daily pattern is somewhat weak, indicating a need for a continued pullback in the short term; however, from the weekly long-term view, the previous mid-term bullish structure that rebounded from a bottom has not been broken, so there’s no need to expect a large one-sided drop today. The market is likely to maintain a range-bound oscillation or rebound after testing the bottom.

Key support and resistance levels for the market have been clearly identified:
- Short-term resistance above is around 4688; a rebound to this resistance level can be used to short.
- The primary support below is the previous low at 4638; if this is effectively broken, the market will further decline to the 4615–4605 range. Once this low zone stabilizes, it can be used to accumulate long positions on dips.
- Strong core support is at 4587, which is a critical position for trend reversal; this support is substantial and also serves as a defensive bottom line for medium- to long-term longs.

Today is Friday, the weekly closing day, and there may be unusual fluctuations at the end of the session. Trading should strictly include stop-loss orders and risk control on position sizing.

Trading reference suggestions:
Buy low around 4610 and 4600, with targets sequentially at 4630, 4640, and 4660.
I still want to share a mindset: the market is highly volatile.