5.8 Wenjie Gold Morning Analysis



This morning, gold is fluctuating and consolidating at high levels, with the market waiting quietly for the evening's non-farm payroll data. Market volatility has narrowed, making it unsuitable for chasing gains or cutting losses.

Key intraday ranges:
Support 4700-4705, strong support at 4685
Resistance 4735-4740, strong resistance at 4760
Trading suggestions:
A pullback to around 4685-4695 can be used to gradually build long positions; short-term targets are first set at 4725-4735;
If the market breaks through strongly, it could rise further to 4800 #XAU$XAU
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