Post-NFP Gold: Bull or Bear Market Next?

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Post-NFP Gold: Bull or Bear Market Next?GOLD (US$/OZ)TVC:GOLDMr-K001The US June non-farm payroll data was released—only 57,000 jobs were added, far below the expected 113,000 and less than a third of the previous month's 172,000! Immediately after the data release, gold surged from $4069 to $4120, a 2.2% increase, while silver soared 4%, breaking through 61.5. The US dollar index plummeted 30 points, falling below 101, and the 10-year US Treasury yield fell to 4.457%. Both the ADP and non-farm payroll figures were disappointing, dealing a heavy blow to expectations of an interest rate hike. From the 4-hour chart, we are watching the 4140-4145 resistance level in the short term and the 4080-4088 support level on the downside. Our strategy is to buy low and sell high within this range. Gold Trading Strategy: 1. Buy gold at 4080-4088, stop loss at 4067, target 4140-4145, hold if it breaks through; 2. Sell gold at 4140-4145, stop loss at 4156, target 4080-4088, hold if it breaks through;