#美国贸易赤字状况 Non-farm data is coming, how to play gold in the short term?

Non-farm data will be released on Friday, the market has been tight these past two days, everyone must control positions well, don't get shaken out by the market.

First look at the big picture. US initial jobless claims data has not shown particularly hawkish signals, which directly eliminated market expectations for the Fed to continue raising rates. The dollar index rushed to 104 and then started adjusting, in turn giving gold a chance to catch its breath. Plus, before the non-farm data, the market has been waiting for labor market performance, now gold has support on the fundamentals in the short term.

Now look at the technical side, this is the key to determining short-term entry and exit. Gold price fell to 4407 yesterday and immediately rebounded, the daily chart showed a reversal pin pattern, clearly with longs taking over. On the 5-minute level, gold price broke through the BOLL upper rail and came back to stand firm at the middle rail, MACD green columns are constantly shrinking, the short-term uptrend has not been damaged; in the 1-hour chart MACD red columns are expanding, KDJ is close to overbought area but price firmly holds above BOLL middle rail, bulls have the advantage; on the 4-hour chart gold price is stable at BOLL middle rail, RSI rebounds to strong area, resistance at 4485-4500, support zone at 4440-4450, as long as support zone is not broken today, the bull structure remains.

How to operate? Dip buy long positions in the 4440-4450 range, place stop loss at 4435; targets pointing to 4480-4500. If the rebound encounters resistance near 4485, can try a light short position, give 3 points width for stop loss, targets look toward 4440-4450.