Muyao: Rebound is not a reversal, short at 4710 with resistance, waiting for the non-farm payroll storm

After a continuous sharp decline earlier, gold stopped falling and rebounded at the support zone, with the daily chart closing higher to recover some of the losses, but overall it is a technically oversold rebound and not a trend reversal. The daily bearish structure remains unchanged, with moving averages suppressing the price rise; the four-hour Bollinger Bands are flat, and the market is oscillating within a range, with no clear unilateral trend; the hourly bullish momentum weakens, prone to quick rises followed by declines.

In terms of operation, short on rebounds at 4710 - 4720 with resistance, stop loss above 4730, target 4650 - 4600.

Non-farm payroll week is highly volatile, so use light positions for short-term trades with strict stop losses, avoid blindly holding against the trend, and cautious traders should wait and see. #