Gold (XAU) has a range of at least 20 points from 4500 to 4474. In the case of serious divergence, the risk of going long is definitely greater than going short, and from a subjective perspective, the long position has been directly abandoned.

Currently, should we choose to replace the decline with sideways movement or enter the market by accumulating positions?

Without news to trigger the market and with short leverage unable to accumulate, in this kind of market, if we want to rise, we can really only rely on the mood of the main players.

Moreover, isn't it quite comfortable to play the range in such a market? It's like picking up money. [Back to School Season]

Before there is a significant volume breakout stabilizing at 4500 (with obvious reversal signals), I personally still maintain the view that 4450 is the key support for this round of correction.