Gold Spikes Early! Don't Chase the Longs Before Weekly Close!GOLD (US$/OZ)TVC:GOLDMr-K001Gold Technical Analysis: Gold bulls finally rallied, after a period of sluggishness. Thursday's non-farm payrolls data was expected to be bullish, as we mentioned yesterday. Gold has finally staged a remarkable comeback. Looking back at our articles from a few days ago, when gold was hitting new lows and remaining sluggish, we advised that things tend to reverse, and that markets often re-emerge from despair. We cautioned against excessive bearishness. Now, gold bulls are finally smiling. Today's short-term gold trading strategy is recommended to primarily buy on dips, with selling on rallies as a secondary approach. Key resistance levels to watch are 4200-4220, while key support levels are 4100-4120. Gold Trading Strategy Reference: Short Strategy: Strategy 1: Sell gold in batches around 4200-4210 with 20% of your position, stop loss at 4230, target 4150-4130, and if it breaks through, look for 4110. Long Strategy: Strategy 2: Buy gold in batches around 4110-4120 with 20% of your position, stop loss at 4090, target 4160-4200, and if it breaks through, look for 4250.