3.18 Gold Commentary: 5000 Level Repeatedly Contested, Consolidating and Awaiting Direction

Gold has recently seen intense long-short competition, with repeated tug-of-war centered around the 5000 level. After opening lower in yesterday's Asian session, it rallied higher amid volatility; the European session extended the rebound momentum, touching as high as 5044; in early morning hours, the market dropped sharply, bottoming near 4973 and stabilizing, then bouncing back from the lows, returning to around 5000 consolidation.

Currently, the market has stopped falling and stabilized; the bearish momentum has somewhat subsided, while bulls are fiercely fighting back at lower levels. Overall, the market has entered a consolidation phase. Ahead of key meetings, market sentiment leans cautious, with long and short sides in temporary stalemate. Short-term trends are mainly characterized by consolidation and recovery.

Key resistance above remains around 5060; any rebound in the following market may still test this level. Short-term downside pressure has eased somewhat, but no clear reversal signals have emerged, with consolidation likely maintained. Operationally, avoid blindly chasing entries; patiently await quality entry points.

Operating Suggestions

Going Long: Enter around 4960–4970, stop loss below 4950, targets at 5010–5030–5070

Disclaimer: The above is Tairan's personal technical analysis for communication reference only and does not constitute any investment advice!
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