Jiang Yuheng 5.11 Gold Morning Review



Gold current price around 4690, Asian session opened lower and stabilized, narrow range correction.

After the non-farm payroll positive data was released, it surged then pulled back, with clear selling pressure at the 4700 level. Currently, bulls and bears are in a tug-of-war, and the overall high-level consolidation pattern remains unchanged.
The US dollar is relatively weak + geopolitical safe-haven support, the overall bullish structure is still intact. Do not chase orders during the Asian session, be patient and wait for a pullback opportunity.

Short-term key levels:

• Support: 4680 (short-term), 4660 (strong support)

• Resistance: 4700 (short-term), 4720 (breakout target)

Morning trading idea:
Buy on dips around 4675-4680, stop loss at 4668, first target at 4698-4715.

Strict risk control, light positions with the trend, do not fight against the trend, patiently wait for volume to pick up in European and American sessions.
Personal review sharing, not investment advice, trade cautiously #Gate广场五月交易分享
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