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7.3 Gold Morning Commentary
Overnight Nonfarm Payrolls came in far above expectations, a major bearish surprise for the US dollar. In June, Nonfarm Payrolls rose by only 57k, and the prior figure was revised significantly lower, sending gold prices surging strongly higher. Today is US Independence Day, with US markets closed, so market volatility should be limited.
The 4-hour uptrend remains intact. After gold pushed higher, there is a need for a short-term pullback; maintain a low-risk long-on-dips mindset.
Support: 4080-4100, Resistance: 4150/4180/4200
Action: On a pullback, build long positions in batches at 4080-4100. Targets are 4150, 4180, and 4200 in sequence. Keep positions light and use a stop loss. #黄金