3.6 Non-Farm Payrolls Boost Gold to Soar, Bulls Launch Feast

Today, before the Asian session, my article's approach was to take a light position around 5060-5070. Currently, the resistance at 5150 has been broken, and the market has been soaring all the way, with a high of 5143, very close to the target level, and the gains are quite substantial.

In the European session, my article's strategy remains to gradually build long positions around 5050—5080, and if the rebound reaches 5150—5180 and encounters resistance, consider reducing positions accordingly. After a retracement to around 5162, the market quickly stopped falling and then entered a consolidation phase. With the release of the Non-Farm Payrolls data, gold continued to strengthen, reaching my first target level and still trending higher with ongoing oscillations!

Yesterday's daily candle closed with a small bearish candle, Bollinger Bands narrowed, indicating the market is about to choose a new direction. The KDJ indicator shows a dead cross with increasing volume, and the MACD fast line is below the slow line with green energy bars gradually diverging. Currently, the overall trend remains upward, with medium-term upward movement. Resistance is still around 5200. After breaking through the short-term resistance band, watch for a slight pullback for confirmation before a second upward move. In the short term, focus on the support around 5110. Overall, the market may maintain a slightly stronger oscillation towards the end of the session.

Disclaimer: The above content is for sharing personal ideas and opinions only and does not constitute trading advice.