On the technical front, the short-term moving averages on the 4-hour chart are turning down, and the K-line continues to be under pressure, presenting an overall weak oscillation pattern. The short-term downside space has not yet been fully released; the hourly line is hovering at a low level, and the rebound strength is weak. Caution is needed for a potential 'small adjustment followed by another drop' pattern. Tonight's November non-farm data will become a key variable. If the employment figures and unemployment rate deviate significantly from expectations, gold is expected to break the 4300–4350 oscillation range, with a high probability of increased volatility.

Operation Reference:

Consider placing short positions around 4320, targeting the 4300–4270 range;

Strictly set stop losses to guard against risks from unexpected breaks before the non-farm data.

Crude Oil: Downward trend continues, approaching key support requires caution

Crude oil continued its downward trend yesterday, closing with a bearish line. The trend of significant downward characteristics is very evident. The daily level has broken through previous aligned support, and the K-line is firmly suppressed by the short-term moving averages, with no signs of a reversal in the downward trend. The 4-hour chart shows an even more extreme trend, with the K-line essentially following the short-term moving averages downward, with hardly any significant rebounds, and bears completely dominate the market.

Future attention should focus on: there is a possibility of a technical adjustment in the short term, but the overall direction remains bearish. It is particularly important to note that the current price is close to the lower boundary of this year's mid-year oscillation range. If it further falls to around 55, it is advisable to wait and see, being cautious of a technical rebound repair after an overshoot, and to avoid blindly chasing shorts near support, which could lead to a passive situation.

Operation Reference:

Consider shorting in the 57–57.1 range, targeting 56–55.2;

While following the trend, it is necessary to leave a certain margin for error to cope with repeated oscillations near the support level.