12.17 Gold Early Morning Strategy: Non-Farm Data Bearish but Strong Trend Remains, Pullback Still a Good Opportunity to Go Long

Yesterday, the gold market experienced a V-shaped reversal, with prices dipping to around 4271 before stabilizing and rebounding. Even though the non-farm data came in bearish, it failed to break through key support levels, ultimately closing above 4300. This morning, gold prices opened flat around 4301, indicating a clear continuation of the bullish trend, with short-term adjustments not altering the mid-term upward pattern.

From a technical perspective, gold's moving averages are in a bullish arrangement, with strong support in the 4265-4275 range successfully intercepting bearish selling pressure. In terms of operations, the principle of being bullish without chasing high prices should be adhered to, viewing pullback adjustments as good opportunities to go long, with a short-term target initially set at the resistance level near 4350.

It is worth noting that although the current market is strong, the risk of chasing prices at high levels is increasing. The 4300 and 4290 areas are key intraday retracement support levels, and long positions can be built based on this range; in addition to the recent high pressure at 4350 above, one must also be wary of strong resistance from historical highs, and it is not advisable to blindly chase after a breakout.

Gold Early Morning Operation Strategy:

Buy gold at the 4278-4285 level, stop loss at 4265, target above at 4340-4345, and hold if it breaks.

Sell gold at the 4325-4335 level, stop loss at 4355, target below at 4290-4298, and hold if it breaks.

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