Enze: A pullback is an opportunity for long positions. This week’s main theme is initially suppressed, then rises.

On Thursday morning, gold sharply declined in a single wave, touching a low of around 4554. We previously publicly recommended long strategies in the 4585-4595 range multiple times. On Friday early morning, gold prices faced resistance at around 4700 and pulled back.

This week, the trend is expected to first find a bottom at 4600-4620 support, stabilize, and then rebound with oscillations, mainly following a pattern of initial suppression followed by rise. If the relevant data underperforms expectations, gold may break through 4700 and challenge the 4730 resistance; if the data is strong, it is likely to fluctuate between 4600-4700. Specific entry points will be based on Enze’s real-time layout.

From the 4-hour gold chart, focus first on short-term resistance at 4770-4780, and pay close attention to key resistance in the 4830-4850 area; downside support is at 4610-4625, with particular attention to the 4590-4595 range, which was also the previous rebound starting point. The overall strategy this week is to buy on dips, with real-time trading signals provided; stay tuned.

Gold trading strategy:
Buy on dips around 4610-4630. If further retracement occurs to 4590-4600, add to long positions. Stop-loss is set at 4585. Target at 4770-4780. If broken, hold and aim higher.

Reminder:
The above analysis is Enze’s personal view. Markets are unpredictable and change rapidly. This content is for reference only and does not constitute any investment advice!