5.8 Afternoon Gold Market Strategy

In the morning, gold saw weak consolidation; rebounds lacked strength, attempts to push higher met resistance, and the market is in a high-level pullback and consolidation phase. The larger uptrend is unchanged, but the short-term rise lacks momentum, and the market is slightly biased downward.

On the daily chart, a long upper shadow formed; bullish momentum is fading. This is a pullback correction within the uptrend rather than a reversal. As long as key support is not broken, the trend remains intact. On the 4-hour chart, the upward channel is still in place, but the recent highs have shifted lower, rebounds have weakened, the moving averages have turned downward, and the short-term outlook remains weak.

Trading suggestion: If price retraces to 4670-4700 and stabilizes, take a light position for a short-term long trade. Set a stop loss below 4650, with targets at 4750-4780.

During the evening’s Non-Farm Payrolls, volatility will be fierce. Remember: trade with a light position, use stop losses, don’t hold positions, don’t go heavy—enter and exit fast! #黄金