Enze: Gold loses the 5200 level! The 5000 mark becomes a life-and-death line, today’s bullish and bearish strategies are clear

Gold was under pressure around the 5200 level in the morning, and after opening, it quickly plunged. The gains from non-farm payrolls have been mostly wiped out. Currently, the key support level below is at the 5000 mark, which is also the last strong support recently. Gold prices temporarily stabilized around 5020.
From the four-hour large bearish candle pattern, as long as the 5000 level is not broken today, it is advisable to operate with low buy and high sell strategies. Early trading is not recommended to chase high sell. Before the European session, focus on oscillation and correction, and after the European session, look for opportunities to short sell. The current trend is relatively weak, compounded by high oil prices supporting the dollar, so gold will still face pressure and fluctuate.

Recent market volatility has been intense, with gold and silver both experiencing rollercoaster movements. Do not hold onto positions blindly; if support is broken, be sure to cut losses promptly.
Silver is approaching the 81 level; wait for a pullback to around 80 before attempting to bottom fish lightly.

Crude oil is the main beneficiary of this round of market movement. It surged significantly last Friday, breaking through $100 and reaching as high as the $110 level.

Today’s outlook is slightly bearish. Watch the 105 support; if it stabilizes, continue to go short.

Reminder

The above analysis is Enze’s personal view. The market changes rapidly, so everything is based on Enze’s actual trading signals!
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