Last Friday, gold opened at around $5081.2. In the morning, gold fluctuated and rose around $5067, with an initial surge reaching as high as $5143.7. It then oscillated and pulled back, with the European session dipping to a low of around $5062.7 before stabilizing. During the US session, amid non-farm payroll data, gold began a strong rally, reaching a high of around $5174.5. The market closed at approximately $5171.3!

On Monday, gold opened with a sharp decline mainly due to the US dollar strengthening again, which suppressed the continuation of gold's rally. As a result, after an initial rise at the open, it pulled back and entered a consolidation range. The medium-term bullish trend remains unchanged. From a technical perspective, the 4-hour chart shows a break-down and downward trend, with oscillation seeking a bottom. Short-term support levels are around 5000/4960, and resistance is at 5100, which is a key dividing line between bulls and bears. Once broken, the price could target the 5130-5150 range. If this zone is strongly broken through, the bulls could push higher. For trading, it is recommended to mainly go long on dips.

Trading suggestion: Focus on buying low within the range, with a dip to 5070—5060 for partial entries. Stop loss at 20 points. First target at 5120, second target at 5140.

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