On October 22th, the biggest feature of the gold market recently is still extreme oscillation, which also marks a complete farewell to the one-sided trend of big rises and falls at the beginning of the year. At present, the gold price still shows an obvious state of low-level weakness and deadlock. Mainly, there is still not enough upward momentum to break through and rise, nor is there a strong bearish force to hammer out a deep decline. Overall, it is still repeatedly seesawing back and forth within a fixed range. However, in the final analysis, this is actually the norm in financial markets. After all, the market is in oscillation and consolidation 80% of the time, and only a very small amount of time will produce a one-sided breakout trend. Therefore, in terms of operations, we all need to adjust our trading thinking in a timely manner and temporarily give up the fantasy of large one-sided trends. From the current overall market picture, gold continues to maintain a standard weak-range oscillation rhythm. Even if it currently breaks below the 4100 mark, the further previous support around 4073-4080 is also very solid. Therefore, the current 4073-4080 area below is the core bottom support for gold at this stage. On the one hand, continuous gold purchases by central banks of various countries provide strong support for the gold price, and on the other hand, this is also a technical support level polished out over the long term. This means that the downside space for the gold price is still very limited. Even if there are continuous oscillations and pullbacks in the short term, after touching this area again next time, a stop in the decline and a rebound are likely to occur again. The current market will still only repeatedly oscillate and grind at the bottom, and it is difficult for a sustained sharp decline to appear. Combined with the current market rhythm, the current operational approach toward gold will still be very clear. The short-term core remains selling high and buying low, and not chasing rises or dumping on falls. Next, in the short term, we can continue to operate based on the key levels below. Later, when the market returns again to the support area around the low 4073-4080, it will be suitable to lay out long positions on dips. For the temporary high above, we can continue to consider shorting in the short term in the pressure area around 4145-4155. In any case, whether it is the weak oscillation market after falling or the high-level oscillation market after rising again later, the biggest taboo in the short term is blindly chasing orders in the middle position. In operations, as long as we follow the boundaries of the range and strictly control the rhythm, that is the safest trading method at present. Then for the current short-term real-time trading levels, we can first refer to the following: 1. Now, after the short term has once again weakly oscillated and broken below the first support at 4100, there has been some continuation of bearish movement. Then we should continue to wait for this wave of bearish movement to finish, and below consider going long again around 4073-4080. The defensive stop loss for the long position is 4060, and the target level for the long position at this position can continue to look up to around 4135-4145 above and then exit first. 2. Later, after the market short term once again shows a bottom rebound, we will then look at the pressure situation around the first resistance at 4145-4155 above, and then consider shorting again based on that. The defensive stop loss for the short position is 4165, and the target level for the short position at this position can continue to look down to around 4110-4100 below and then exit first.
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