3.20 Gold Unilateral Plunge 300 Points, Cautious Bottom-Fishing

Market Review

Yesterday's opening price rebounded from 4827 to the 4804 level, reaching 4867, after which price rapidly declined to the intraday low near 4502 and rebounded to around 4648. Subsequently, price oscillated in the 4570-4650 range, and in the early morning hours after surging to 4663, it closed near 4651.

On the 4-hour chart, the overall structure remains weak, the moving average system shows a clear bearish arrangement, and the mid-term downtrend has not yet reversed. However, MACD bearish momentum is gradually decreasing, RSI is turning up from lows, downward momentum is weakening, entering oversold recovery, but with no reversal signals.

On the 1-hour chart, MACD displays bottom divergence and KDJ golden cross, indicating weak rebound recovery demand, but with insufficient energy and poor sustainability. Key resistance above focuses on the 4750-4800 USD range, which was a key support level previously and has now transformed into strong resistance after being broken through. It is also an important pressure point for this rebound with little chance of effective breakthrough. Below, continue to focus on around 4500. Combining the analysis, the trading strategy for today is clear with only one core principle: conform to the bearish trend, cautiously participate in rebounds, do not blindly bottom-fish, and do not chase longs.

Gold Trading Strategy: Sell short at 4750-4780 rebound in batches, stop loss at 4800, target 4650-4600. Light positions, strict stop loss

Disclaimer: The above content is only personal analysis and viewpoint sharing and does not constitute trading advice.