The PainMap gold maximum pain price chart shows the current futures price at approximately 3673, above the maximum pain price of 3479. However, the maximum pain price itself continues to rise, weakening downward pressure. Short-term fluctuations at a high level are more likely. The intrinsic value curve is U-shaped, with a narrow bottom and a steeper right side, indicating more sensitive positioning above the upper limit. The maximum pain price has steadily risen from approximately 3335 to 3478 over the past two weeks, with funds pushing up the settlement center of gravity, reflecting a combination of long position shifting and bearish position closing.
Trading this represents a "statically bearish, dynamically bullish" divergence. A recommended range is:
Buy lows and sell highs between 3650 and 3690. If the price breaks above 3690 with significant volume and the pain price continues to rise to ≥3500, a long position with a target of 3715/3735 can be adopted, and an exit can be made if the price falls below 3680. Conversely, if the price falls below 3650 and the pain price weakens, a short position with a target of 3620/3600 can be adopted. Note that with options expiring soon, news shocks could amplify volatility and invalidate the structure.
(The above prices are for October gold futures, with a spot/futures spread of approximately $5.)
