Yesterday, gold's rally surged on the back of positive non-farm payroll data, shooting up nearly $80 in a single 15-minute candlestick, breaking through and reclaiming the 4100 integer level, with the high reaching 4144.05.


During the overnight session, gold experienced a moderate pullback in the later hours, found support near 4100, and then oscillated higher in a rebound.
This morning, gold rallied again, rebounding sharply to near the 4200 level, with the high reaching 4195.42.
From the daily chart analysis, yesterday gold price was capped by the 20-day moving average, but this morning it has stepped firmly above the 20-day MA. Once it holds above the 20-day MA, gold price will inevitably move towards the Bollinger upper band around 4360.
Today's daily candle is bullish, forming a "three white soldiers" bullish pattern on the daily chart, indicating an extension of the rebound.
From a 4-hour cycle perspective, during last night's session, the 4-hour cycle stood above the life line again after three weeks, and the MACD also ran above the zero line, signaling a robust rebound momentum.
In summary, the gold rebound that originated below the 4000 level is now in full swing.
GLDX2.12%
PAXG2.61%
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