7.3 Gold Midday Commentary: Early Morning Long Idea Realized, Bullish Continuation with High-Level Consolidation

Overnight non-farm data continued to boost gold, and the early morning long idea was perfectly realized, with gold prices steadily rising to the 4176 level. With the U.S. market closing early today, market liquidity is gradually shrinking. Although there is slight short-term pressure, the overall bullish trend remains unchanged.

Technical Analysis: The 1-hour Bollinger Bands are opening upward, with prices consistently rising along the middle band. The 30-minute Bollinger Bands are also rising in sync, with gold prices near the upper band. The RSI has entered the overbought zone, indicating a slight short-term pullback demand.
Short-term resistance: 4196, 4202; Support: 4148, 4124.

Coco's Suggestion: Continue to go long on dips in the midday session. Enter long near 4135-4155, targeting 4180 and 4200. If upward momentum weakens, take a light short position after the rise, strictly using stop-losses. Be mindful of the risk of early market closure.

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