Gold prices fluctuated with a slight downward bias.GoldOANDA:XAUUSDTurtle_TVGold has rebounded after hitting a high during the Asian session, with a bullish candlestick with a long lower shadow on the one-hour chart being almost completely erased by two consecutive bearish bodies. This indicates that there is resistance above gold and strong support below. It also shows that without significant news, gold is still in a range-bound oscillation trend. The $4700 mark has become a key position contested by bulls and bears. Today, gold hit a low of 4692, which is a watershed below. If it falls below this level again during European or American trading hours, it suggests that gold is in an extremely weak market condition. We can short sell gold when it rebounds again. The upper high is 4753, which is also a watershed above and the high point of the US market rebound yesterday, forming a small double top on the candlestick chart. This position is unlikely to be broken through today, so we can rely on this level to short sell gold. Overall, gold is currently in a volatile and weak market condition. The previous support at 4700-4710 is now not very solid, so buying gold at this level carries certain risks. The inverted V-top at yesterday's high of 4770 seems difficult to reach now. This shows that the overall center of gravity of gold is gradually declining. Technically, the 5-day moving average has formed a death cross with the 10-day moving average and continues to extend downward. The current gold price is operating below the short-term moving averages and is significantly suppressed by them. Trading strategy: Today, we will mainly short sell gold, with attention paid to the resistance at 4740-4750 above. Below, we are looking at support at 4660 - 4675.