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Non-farm payroll data was released, and gold was hit by dual negative factors, quickly breaking down the 5035 support, directly realizing the forecast that breaking below 5035 would follow down to the 5020-5000 area. The 5120 phase high point was confirmed, and the 5050-5035 range shifted from support to resistance, with moving averages in a bearish arrangement and short-term bearish momentum continuing to be released.
In the current structure, 5020-5000 is the core support zone. If there is a volume stabilizing signal here, it will trigger a rebound from oversold conditions; if it breaks below 5000, the downward trend space will further open up. 5050-5035 remains a key resistance, and if the rebound cannot break through with volume, the bearish rhythm will continue.
In terms of operations, any position around 5070 can look lightly bearish. You can take profits in batches in the 5020-5000 area and pay attention to the strength of support. If it strongly stabilizes at 5085, beware of short covering, and adjust the strategy.
$BTC x$XAU
