Gold rebounded from the high of 4410 yesterday, and the trend has become clearer. Currently, there is a noticeable tug-of-war between the selling pressure above and the buying support below, which suggests that the market is likely to maintain a wide-range consolidation pattern for the day.

From an operational perspective, if gold reaches the 4446-4435 zone, consider taking a light position to test the bullish side, with a target towards the resistance level of 4490-4500. This approach is relatively prudent, as there is clear support below.

If the 4435 level is broken, then shift to the lower range of 4410-4397 to catch rebounds and go long, continuing to adopt a buy-the-dip strategy.

The opportunity to short appears near 4497, where you can open positions in batches and then close around the 4460 level. This is a relatively clear counter-trend operation zone.

The most critical risk point is—once the 4397 level is effectively broken, the original range-based thinking must be completely overturned. At that point, you should decisively follow the trend and go short, rather than holding onto those support levels to go long. When the market logic shifts, operational strategies must be adjusted accordingly.