#MSCI未排除数字资产财库企业纳入范围 On the night before the non-farm payrolls, how should we view gold market trends?

The non-farm payroll report is coming this Friday, and the market is very sensitive right now. Everyone should control their positions carefully and avoid being shaken out.

From a fundamental perspective, the US initial jobless claims data is not as hawkish as expected, so the rate hike expectations are easing. After the dollar index surged past 104, it started to face pressure, which presents an opportunity for gold. Additionally, before the non-farm report, the market is watching the labor market performance, so gold has short-term support.

Technically, gold prices rebounded after falling to 4407 yesterday, forming a hammer bottom pattern on the daily chart, indicating bullish momentum. On the 5-minute chart, the gold price broke above the upper Bollinger Band and then retreated to the middle band to stabilize. The MACD green bars are shrinking, showing the short-term upward momentum is still intact. The 1-hour chart is more obvious: the MACD red bars are expanding, and although the KDJ is approaching overbought levels, there's no need to fear because the price remains above the middle Bollinger Band, indicating strong bullish energy. The 4-hour chart shows the gold price holding steady above the middle band, and the RSI has returned to a strong zone, suggesting a higher probability of further upward movement. Key resistance is at 4485-4500, while support is at 4440-4450. If today’s pullback does not break this support zone, the bullish trend will continue.

How to operate? If the gold price pulls back to the 4440-4450 range, consider opening a long position with a stop loss at 4435, targeting 4480-4500. Conversely, if it rebounds near 4485 and gets stuck, you can take a small short position with a 3-point stop loss, aiming for a return to 4440-4450.