Gold is fluctuating around 4072, in a corrective rebound after bottoming at 4035. The 1-hour Bollinger Bands’ middle line at 4077 is nearby resistance, with key resistance concentrated at 4090–4106. Bearish momentum on the MACD continues to ease, while the broader structure remains unchanged; this is merely a recovery after the decline. The major nonfarm payrolls report is due tonight at 9:30, which is likely to amplify volatility. Before the release, the market is likely to remain range-bound.
Avoid taking large positions before the data. Near 4080, consider a small short position with a 10-point stop-loss and a target of 4035$XAU $BTC