October 4, Jingyi Gold Brief



Last Friday, gold’s close failed to hold the 4650 level. This morning, it slipped lower under pressure and is now testing the 4600 support. On the daily chart, the bullish momentum is weak and a strong trend has not formed yet, suggesting there is room for a pullback. Below, the main focus is a second test of the 4550 lower Bollinger band.

On the 4-hour chart, the bulls and bears are in a roughly balanced standoff, and in the short term the market is consolidating without a clear direction. Early in the week, the strategy will mainly be range trading. Resistance is at 4650 and 4720, while support is at 4550 and 4500.

In the short term, gold will continue to trade sideways on Monday and Tuesday. Starting Wednesday, data releases will be dense, and volatility will increase. This Friday’s non-farm payrolls is the key to the early-month trend. Make sure to tightly control position size, and adjust your strategy in real time if there are intraday anomalies.

Trading Suggestions
Short 4620-4640 on rebounds; the short-term target is 4550. If it breaks through, then watch 4500. #WCTC交易王PK
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