From a technical perspective, the sharp fluctuations in gold in the early trading are in line with the recent characteristics of the wash, but we need to be wary of a sharp drop after a continuous slow rise, which may be a signal of exhaustion of bullish momentum. If the 3404 watershed cannot be effectively broken through during the day, the probability of a short-term peak will increase further. On the operational level, it is recommended to avoid blindly chasing highs and pay attention to the impact of the Fed's decision on the actual interest rate and the trend of the US dollar. The current upper resistance is 3397-3407, and the lower support is 3360-3350. In terms of operation, it is recommended to go long during a pullback, supplemented by a high-altitude rebound.
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