Gold: Watch Resistance at 4070–4114 Ahead of NFPGold dropped below 4010 during yesterday’s late session but quickly rebounded afterward, and many traders should have captured that long opportunity.
For today’s session, the main focus remains on whether the 4000 psychological level can hold.
Key resistance levels to watch:
4070 (first resistance)
4082–4091 / 4097–4104
Major resistance at 4110–4114
The 4020–4000 zone may see repeated fluctuations, but in the short term it will continue to attract buying interest. Therefore, buying on dips still carries a relatively high probability of success.
If price breaks below 4000 again, pay close attention to:
3986–3966 zone
3932 support
These areas represent the origin of the recent rebound. Previously trapped short positions are likely to cover and reverse into longs once they get out, while trapped longs above 4200 may also add positions to lower their average cost—both forces combined could provide solid support for another rebound.
Once gold returns above 4100, caution is necessary:
Watch 4070 as the key support during any pullback
If this level holds and the upcoming NFP report does not pressure the bulls, the market may attempt another move toward 4200
However, if the data turns out bearish, multiple catalysts could empower the bears, leading to another downward move to retest the critical 3886 support level
Overall, the short-term outlook remains dominated by key support/resistance interactions, while the medium-term direction depends on whether 4000 holds and whether upcoming macro data can revive bullish sentiment.
