Gold's recent plunge has caught many people off guard. The good news is that the market has finally stabilized in the past couple of days, and the daily chart is approaching the middle Bollinger Band, indicating a potential rebound.

From a technical perspective, PAXG has shown a bullish divergence signal on the 30-minute chart, which usually suggests that the downward momentum is weakening. Currently, the four-hour chart is continuing an upward move, and the key is whether tonight or early morning the 30-minute timeframe can form a three-buy pattern—once confirmed, the opportunity to go long will arise.

For traders looking to participate in this rebound, consider gradually adding long positions within the 4375-4365 range. If the price breaks through expectations later on, targets can be set at 4410 and 4440. Of course, stop-loss should be set properly; if the price falls below 4329, exit the position to prevent small losses from turning into larger ones.

Overall, this recent plunge in gold may be nearing its end, and the next step depends on the strength of the counterattack.