Weekly Review: Bullish Pattern Unchanged, but Short-term Caution at Key Resistance

Good afternoon, friends. Gold has lived up to expectations this week, continuing its upward trend, with the weekly candle closing in positive territory once again confirming the strength of the overall bullish trend. From the "V-shaped" reversal after Friday’s non-farm payroll report and the long lower shadow on the daily chart, the buying support below remains strong.

Core Viewpoints:
I remain bullish on gold’s medium-term trend; the bull market pattern has not changed. However, in the short term, early next week the market will face a critical decision point, with particular attention to the attack and defense around the 4550 level. Before a confirmed breakout, the market is more likely to consolidate and gather strength, so it’s advisable not to chase highs. Patience and waiting for a pullback to buy at lower levels remains the best strategy.

Key Level Breakdown:

Strong Resistance Zone: 4532 (initial resistance), 4550 (dividing line between bulls and bears, core focus).
Upside Targets: Once the daily close stabilizes above 4550, short-term space will open up, with targets potentially reaching 4570-4600. In the medium term, the expectation to challenge the historical highs of 4900-5000 remains unchanged.
Support Levels: 4495 (hourly strength/weakness reference), 4477 (key daily support), 4460 (trendline support). In case of a deep correction, attention should be paid to the support at 4408 and the low points of this week.

Early next week (Monday) trading strategy:
Given the intensified battle between bulls and bears at key levels, a flexible approach of “initial long, then short, follow the breakout of key levels” is recommended:

1. Buying on dips: When the price first stabilizes around the 4477-4495 support zone, consider gradually adding long positions, with short-term targets at 4520-4532.
2. Resistance battle:
If the price rebounds near 4532 and shows signs of stagnation (such as weakening hourly candlestick patterns), try a small short position for quick entry and exit.
If the price shows strong momentum and directly breaks through 4550 with volume, avoid guessing the top. Wait for a pullback to confirm the breakout (such as a retracement to 4530-4540) before adding longs, targeting 4570-4600.
3. Potential high-level short opportunities: If the price first touches near 4550, a small stop-loss short position can be attempted to play the first pullback at this key resistance.

Summary:
The foundation of the gold bull market lies in its long-term safe-haven and currency attributes; trend strength often surpasses short-term fluctuations. Currently, we are approaching an important resistance zone, so maintaining a bullish but cautious mindset is crucial. In trading, use 4550 as an anchor point for strength/weakness observation. Below this level, focus on buying near support levels; after a confirmed breakout, follow the trend. Proper position management and risk control are essential for steady progress.

The above reflects my personal technical analysis. Markets are ever-changing; this is for reference only and does not constitute any investment advice.