6.28 Coco's Outlook for Next Week's Gold Market:



Gold hit a low of 3983 this week, closing at 4081, with bearish momentum fading. The bottom-building pattern is clear, coupled with expectations of interest rate cuts and sustained safe-haven support from US-Iran geopolitical tensions. Next week's non-farm payrolls will be in focus, with the overall trend oscillating and leaning towards a rebound.

Technically: The 30-minute and hourly Bollinger Bands are converging simultaneously, with RSI staying above 60, neutral-to-bullish, and the bullish recovery structure intact. Support: short-term 4045, 4000; key pivot 3988, a break below would disrupt the rebound trend. Resistance: short-term 4097, 4107; medium-term strong resistance 4140, 4170.

Coco's suggestion: Mainly buy on dips, supplemented by short-term shorting on highs. Enter long positions in batches on pullbacks to the 4040-4000 range, and short on rallies to 4100 and 4140 when resistance holds. Keep stop-losses in place at all times and strictly control positions.

Disclaimer: The above is solely personal opinion and does not constitute investment advice.
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