Yesterday, gold relied on the 4285 line for a low long strategy layout, and after the non-farm data was released, the price surged to the target range of 4330. The long position was successfully closed, and then the market began to retrace and adjust.
On the daily level, the gold price continues to show a high volatility pattern, with the operating range compressed to 4270-4350. Currently, the K-line is stable above the short-term moving averages, and the pullback strength and continuity are relatively limited. We need to be wary of a slight breakdown at the daily level, after which the market may start a sustained upward trend.
On the 4-hour level, the price is operating within a converging triangle range, and the range pattern continues to narrow. The short-term moving averages are gradually turning upwards, and the short-term market shows a relatively strong volatility pattern. On the small cycle level, the K-line relies on the short-term moving averages to oscillate upwards, and it is important to pay attention to the rhythm of market adjustment and repair in the short term.
Operational suggestion: It is recommended to layout long positions in the 4295-4300 range, with a stop loss at 4285 and a target looking at the 4330-4350 range,
