Technically, the sharp fluctuations in gold in the morning are consistent with the recent characteristics of the wash, but we need to be alert to the sharp decline after the continuous slow rise, which may be a signal of the exhaustion of bullish momentum. If the 3404 watershed cannot be effectively broken through during the day, the probability of a short-term peak will further increase. On the operational level, investors are advised to avoid blindly chasing highs and focus on the impact of the Fed's decision on the actual interest rate and the US dollar. If the decision is dovish, gold may continue to rebound, and if it is hawkish, we need to be alert to the risk of a correction. The current upper resistance is 3397-3407. The lower support is 3360-3350. In terms of operation, it is recommended to do more on the correction and supplement it with high-altitude rebound.
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