Gold fluctuates at high levels; beware of a sudden drop.GOLD (US$/OZ)TVC:GOLDAlpha_Market_InsightShort-term support: The 4320-4340 range is a short-term defensive position for the bulls. If this level holds, the market will maintain a high-level consolidation pattern. If it breaks down effectively, the downside potential will open up further, targeting the 4260-4280 area. - Short-term resistance: 4400-4430 is the primary resistance level for any rebound. Only by regaining a foothold in this range can the bulls have a chance to challenge the previous highs again. After a round of decline, the previous overbought condition has been digested, and we are now in a new phase of competition between bulls and bears. It is not advisable to blindly chase the rise, nor is it appropriate to directly judge the trend reversal. We should wait for a valid breakout or breakdown of the key range before observing the direction.