Gold has been quite volatile these past two days. It plummeted from the all-time high of $4,549 to $4,303 in one go, closing with a large bearish candle on the daily chart. The underlying logic is also clear—expectations of rate cuts by the Federal Reserve have significantly cooled down, geopolitical risk aversion sentiment is also retreating, and combined with the previous large gains, many are also taking profits.

Currently, the key resistance level is at 4,390. If it cannot hold here in the short term, the next support levels to watch are 4,350 and 4,300. But on the other hand, such a sharp correction also presents opportunities. From a technical perspective, if a rebound occurs during the daytime trading session, the 4,350 level is worth paying attention to—support is quite solid, and it could be a good place to consider entering long positions. The key still depends on volume and market momentum; don’t rush to go all-in, gradual entries are more prudent.