6.5 Gold Morning Review: Market declines as expected, waiting quietly for tonight's non-farm payroll report

Review of the market: Yesterday's forecast of a rally facing resistance and a bearish dominance was fully realized, with gold prices jumping to 4515 overnight before plunging sharply to 4424; during the daytime session, the weakness continued with oscillations downward, currently around 4444, perfectly aligning with the morning outlook, with the medium- to long-term bearish pattern unchanged, and the market awaiting tonight's non-farm data.

Trend analysis: Market sentiment is strongly cautious, all waiting for the guidance from tonight's non-farm report, which will influence rate cut expectations; during the white session, gold prices lack buying support and continue to be under pressure downward.

Technical analysis: 1-hour and 30-minute KDJ indicators are at low levels, with prices firmly below short-term moving averages, showing weak rebound momentum. Short-term resistance is at 4470-4485, with strong resistance at 4515; short-term support is at 4435, with key support at 4424, and the short-term outlook is bearish.

Cocoa suggestion: Short in batches at 4465 and 4475 during rebounds, targeting 4440 and 4430; buy on dips at 4424 support for short-term rebounds, exit when encountering resistance, and strictly set stop-loss on all positions.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please trade cautiously.