What does Gold's performance on Wednesday indicate? Prices cooled off and retreated at the 4500 level, dropping all the way down to 4423 before stopping. This correction directly wiped out all of Tuesday's gains. From the four-hour chart, a clear inverted V reversal pattern has already formed.

Early in the morning, gold prices surged to 4470 but quickly turned around. After dipping yesterday, they rebounded rapidly, and by the close, held firmly above 4450—indicating that the downward support is not weak. The range between 4470 and 4440 is currently a narrow consolidation with repeated tug-of-war. The daily candle closed with a bearish line, but this correction is still within a reasonable range. The strong support around 4400 has not been truly tested yet, and it's premature to say that a double top has formed at 4500.

From a technical perspective, the 4415-4435 zone is critical—moving averages are forming a golden cross here, creating a resonance point that is conducive to stabilization and rebound. If the European session can effectively break through the 4467-4475 resistance, then a pullback during the US session could be considered a good opportunity to go long, targeting 4500-4520, with further potential to 4560-4600.

The core strategy for intraday trading is to handle oscillations—buying low and selling high. If the price retraces to around 4410, consider gradually building positions in batches. As long as the daily chart does not effectively break below 4400, it remains a healthy correction; once the 4465-4475 zone is firmly broken and stabilized, the rebound space will open up.

Tonight, initial jobless claims data will be released, which could increase short-term volatility. Until clear reversal signals appear, the strategy should lean towards low-buying and avoiding chasing rallies or panic selling.