Gold prices are currently consolidating at a high level near $4,

Gold prices are currently consolidating at a high level near $4,326.

Upside Resistance: Initial focus is on the $4,366-4,381 range, the recent all-time high. A strong breakout would open up the potential for further gains to $4,420.
Downside Support: Key support lies near $4,326, followed by $4,296-4,300. A break below this level could trigger a further correction to the stronger support range of $4,214-4,162.
Bull Market Trend Expectation: On the daily chart, the moving averages are bullish, maintaining the overall upward trend.
Short-Term Adjustment Pressure: The weekly and daily KDJ indicators formed a death cross in overbought territory, and some profit-taking is also putting pressure on gold prices.
Specific Strategy: Short-term traders: Go long after the pullback stabilizes.
If gold finds support near $4,326 and shows signs of stabilization, consider a light long position with an initial target of $4,360-4,380.

If gold prices retreat to the core support level of $4,296-4,300 and stabilize, this presents a safer long opportunity with the same target as above, but with a tight stop-loss. For long positions, a stop-loss below $4,290 is recommended. Maintaining a light position is crucial due to high volatility.

Overall, there is short-term technical pullback pressure from the all-time high.

For short-term traders, the key is to identify signs of stabilization near support levels and set a tight stop-loss order.