3.20 Gold Unilateral Crash of 300 Points, Cautiously Participate in Bottom-Fishing

Market Review

Yesterday's opening price rebounded from 4827 to 4804, then rallied to 4867, after which prices rapidly declined to the intraday low near 4502 and rebounded to around 4648. Subsequently, prices oscillated in the 4570-4650 range, and early morning prices surged to 4663 before closing near 4651.

On the 4-hour chart, the overall structure remains weak, with moving averages showing a clear bearish arrangement, and the medium-term downtrend remains unreverted. However, MACD bearish momentum is gradually contracting, RSI showing signs of turning at low levels, downside momentum diminishing, and entering oversold correction territory, though without reversal signals.

On the 1-hour chart, MACD bottom divergence and KDJ golden cross indicate weak rebound correction demand, but with insufficient energy and poor sustainability. Pay close attention to the 4750-4800 USD resistance zone above, which is a key support level from previous periods and has transformed into strong resistance after being broken. It is also an important pressure level for this rebound with difficulty in effective breakthrough. Continue to closely monitor around 4500 below. Overall, clarifying today's operational strategy with only one core principle: align with the bearish trend, cautiously participate in rebounds, do not blindly bottom-fish, do not chase longs.

Gold Trading Strategy: Sell in batches on rebounds at 4750-4780, stop loss at 4800, targets 4650-4600. Light position, strict stop loss.

Disclaimer: The above content is merely personal thoughts and viewpoint sharing, and does not constitute operational advice.