Brother Ling's personal analysis of spot gold early morning strategy

The weekly chart has shown a bottoming and rebounding pattern for two consecutive weeks, with solid bottom support, and the overall rebound trend remains unchanged. Bullish momentum is weakening, leading to a high-level consolidation and washout market, with the pullback being a mid-rally correction.

Fundamentally, the cooling of non-farm payrolls dampens rate hike expectations, and global central banks continue to purchase gold to support prices. Only a short-term slight rebound in the US dollar suppresses gains.

On the daily chart, gold prices still stand firmly above all short-term moving averages, with moving averages arranged bullishly. Only the MACD red bars have slightly contracted, indicating a brief pause in bullish momentum. Downside space is limited, with sufficient support below.

The intraday strength-lull dividing line lies at the 4130 level, which is a support zone where the Bollinger mid-band and moving averages coincide. Buying on a pullback to this area offers high cost-performance. The medium-term bullish defense level is set at 4100; only a breakdown below this level would reverse the current rebound rhythm.

The strategy is to go long on a pullback near 4120, targeting 4180-4200-4220.