In a volatile market, consider buying low and selling high.GOLD (US$/OZ)TVC:GOLDJOOENSIGold rose steadily during the US session yesterday, closing with a long-shadowed bullish candlestick on the daily chart. Today, Friday, the weekly close, gold is likely to continue its consolidation, with little expectation of significant gains or losses. From a technical perspective, the 4-hour chart shows the Bollinger Bands widening, the KDJ indicator attempting a golden cross, and the MACD fast and slow lines intertwined. The 1-hour chart also shows the Bollinger Bands widening, with the price choosing a new direction as expected. The KDJ indicator shows a bullish crossover with increasing volume, and the MACD fast line is above the slow line with the red histogram bars gradually expanding. While gold is still trading above the 100-day moving average, the pullback pressure from Wednesday, as well as resistance from the 10-day and 60-day moving averages, remain a resistance level. If the 60-day moving average resistance cannot be broken, the market will face consolidation and a potential pullback to the support levels of $4655 or $4500. Therefore, before either following the trend after a breakout or buying on a pullback to support, focus on intraday short-term resistance and support levels for short-term trading. Daily support is around $4720; a long position can be considered upon reaching this level. If the price breaks below 4720, it should retest yesterday's low of 4700 or even around 4680, where further long positions can be considered. The resistance level is around the intraday high of 4780; if this level holds, short positions can be considered. If the price stabilizes above 4780, the next target is a strong high of 4857; where this level can be considered, short positions can be considered again.