The fluctuation pattern of gold has not changed, and it is the right time to go long at 4190.

During yesterday's US trading session, the price of gold experienced a rapid decline, drawing the attention of countless traders. The market's bearish sentiment briefly intensified. However, key support levels demonstrated strong resilience, with the previous bottom holding firm, and the rapid decline did not continue. The fluctuation range of gold remains solid.

Entering today's Asian session, technical indicators on the market are gradually showing a weakening trend, and the bullish counterattack is currently insufficient, with the bears also failing to break through key support. The battle between bulls and bears has become stalemated. Based on the current market performance, the probability of breaking the fluctuation range in the short term has significantly decreased, and the market is likely to continue oscillating within the range.

In a fluctuating market, accurately identifying entry points is key to profitability. Currently, the gold pullback at 4190 is an excellent opportunity to position long orders! The target above can be directly set to the range of 4216-4224, which is a common resistance level in the recent fluctuating trend. After reaching this range, one can choose to take profits and exit. At the same time, to strictly control trading risks, the stop-loss level should be set at 4175. If this level is breached, immediate stop-loss and exit are necessary to avoid deep losses.

Before the fluctuation pattern is broken, do not blindly chase after rising prices or sell off in a panic. Follow the principles of range trading, relying on key support and resistance to sell high and buy low, to firmly grasp the benefits of oscillation!