3.18 Jian Xi Midday Review: Rally Pullback Meets Resistance, Key Support Determines Bulls and Bears

Gold rallied without strength in the morning session, touching 5015 before a quick pullback, successively breaking below the Bollinger Band midline and short-term moving averages, with the lowest test at 4986. Currently oscillating weakly around 4991. Overall pattern shows rise followed by fall, with short-term trend biased toward consolidation and weakness, and intensified bull-bear struggle.

From a fundamental perspective, Middle East geopolitical tensions support safe-haven demand, the Federal Reserve's stance is cautious, rate cut expectations remain uncertain, combined with significant U.S. data approaching tonight, funding sentiment is cautious, and profit-taking from higher levels is driving gold prices lower.

On the technical side, gold price pulled back after rushing to the upper band on the 5-minute chart, breaking below the midline and approaching the lower band. The Bollinger Band is opening downward with clear short-term bearish signals. Currently approaching the 4980—4985 key support level. If lost, further downside is expected; if stabilized, a rebound to repair losses is likely.

Pullback to 4970—4980 for stabilization, accumulate long positions in batches
If correction expands to 4940—4960, continue taking longs
If the market strengthens directly, follow with long positions near 4990
Target: 5000, 5050 and above #古巴领导人回应美国威胁 $XAUT