5.8 Gold Evening Review: Pre-NFP Volatility Tests Patience, Not Chasing Orders Means Winning Half



Market Review: Intraday gold prices oscillated upward from 4687, reaching a high of 4734, and dipping to a low of 4681, currently trading around 4718. The support at 4680 and resistance at 4720 predicted in the midday review were perfectly validated. Market sentiment before the non-farm payrolls remains cautious, with overall narrow fluctuations.

Trend Analysis: From a technical perspective, the 4-hour chart shows prices above the MA7/20/90 moving averages, indicating the medium-term bullish trend remains intact; the 1-hour moving averages are intertwined, with clear short-term bullish and bearish divergence. Key support is at 4700-4680, resistance at 4730-4750, volatility continues to narrow, waiting for non-farm payroll data to break the balance.

Trading Suggestions: Before the non-farm payrolls, strictly control positions. Lightly short on rebounds around 4730-4735, with a stop loss at 4755, targeting 4700-4680; look for long entries on dips around 4700-4690, with a stop loss at 4675, targeting 4720-4730. After the data release, wait for digestion and then follow the trend, avoid chasing highs or selling lows.

Disclaimer: The above is only a market opinion sharing and does not constitute investment advice. Investment decisions should be made independently based on your own risk tolerance.
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